BitGo Gets Ready for an IPO Following Significant Gains
For the six months ending June 30, the company’s revenue and profit were $4.19 billion and $12.6 million, respectively, up from $1.12 billion and $30.9 million in the first half of 2024, according to its filing for an IPO.
The figures show that there is a growing demand for cryptocurrency services and that investors are beginning to take digital assets seriously as a class of financial assets.
Institutional Demand Drives Growth
BitGo, one of the biggest cryptocurrency custody companies in the US, was founded in 2013. Businesses like BitGo are essential in making sure that digital assets are handled and maintained securely as investor interest in cryptocurrencies increases.
This desire has been strengthened by recent market movements. Successful U.S. cryptocurrency initial public offerings (IPOs), such as those of Circle, the stablecoin issuer, trading platform Bullish, and blockchain lender Figure, have attracted a lot of investor interest and demonstrated the industry’s increasing respectability. Investors are increasingly seeing digital assets as an emergent asset class rather than just speculative instruments, according to Josef Schuster, CEO of IPOX, an IPO research firm.
Goldman Sachs and Citigroup will be the primary underwriters for BitGo’s planned listing on the New York Stock Exchange under the ticker symbol BTGO, according to Reuters. The initial public offering (IPO) coincides with one of the busiest offering schedules since 2021 on the U.S. capital markets. Crypto companies are driving a surge of new listings, indicating restored investor confidence after months of uncertainty brought on by tariff concerns.
BitGo Expands Access to Hyperliquid with $hwHLP Support
By sponsoring $hwHLP, one of the cryptocurrency trading platforms with the quickest growth, BitGo is now giving institutions access to Hyperliquid. Institutional clients may trade with confidence thanks to this integration, which takes advantage of BitGo’s safe and regulated custody services and provides smooth access to Hyperliquid’s fast market infrastructure.
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