BitGo CEO to Maintain Firm Control Through Dual-Class Share Structure in Planned IPO

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As BitGo files for its highly anticipated US IPO, the S-1 filing details a governance structure that ensures co-founder and CEO Michael Belshe retains ultimate control.

Belshe will hold Class B shares, each carrying 15 votes, compared to the single vote of the Class A shares being offered to the public.

This dual-class share structure qualifies BitGo as a “controlled company” under NYSE rules, exempting it from certain corporate governance standards.

The move to go public comes as the firm, which custodies $90.3 billion in assets, aims to capitalize on growing institutional demand under the current regulatory climate.