A newly public, OCC-chartered crypto trust bank aiming to become the default “institutional plumbing” layer for custody, staking, trading, and tokenized real-world assets.
Overview
BitGo Holdings (BTGO) is an institutional digital-asset infrastructure company that became publicly listed on the NYSE on Jan 22, 2026 following a $212.8M IPO priced at $18.00. A defining competitive milestone is final OCC approval to operate as a national trust bank, making BitGo a federally chartered fiduciary positioned to bridge traditional finance and crypto markets. BitGo offers a vertically integrated “full-stack” platform enabling institutions to secure, manage, trade, stake, finance, and issue digital assets. It serves 4,900+ institutional and HNW clients across 100+ countries, including exchanges, asset managers, hedge funds, corporates, and sovereign entities, and supports 1,550+ assets. As of Sep 30, 2025, it managed ~$104B in Assets on Platform. Revenue is diversified across custody/wallet fees, staking take rates, infrastructure APIs, financing/prime, and agency trading. 2025 headline revenue surged due to gross “Digital Asset Sales,” but the more durable indicator—net revenue from fees/subscriptions—grew ~65% YoY to $140M for 9M 2025, reinforcing the thesis that BitGo is “plumbing” for institutional adoption rather than a retail exchange reliant on speculative trading.