Innovative fintech company BitGo is setting its sights on the public market, announcing its forthcoming initial public offering (IPO) that could push its valuation close to $1.96 billion. This move comes as more companies in the crypto space explore opportunities to go public amid growing investor interest.
As highlighted in Reuters, BitGo intends to raise approximately $201 million by issuing around 11.8 million shares. The anticipated share price is projected to fall between $15 and $17.
The Current Investment Landscape
Founded in 2013, BitGo has become a key player in the crypto custody sector, with its focus on the secure management of digital assets resonating well with institutional investors. As interest in cryptocurrencies continues to rise, the demand for secure storage solutions becomes ever more critical.
BitGo is stepping into a dynamic and competitive arena, especially following notable IPOs from firms like Circle (CRCL) and cryptocurrency exchange Bullish (BLSH) in 2025. Notably, Kraken is also preparing to make its public debut, intensifying the race among these emerging companies.
Yet, despite this promising backdrop, the investment climate has been notably volatile. A significant selloff in the previous October eliminated almost $20 billion in long positions, prompting investors to exercise greater caution. Concurrently, heightened scrutiny surrounding technology and AI valuations adds to the pressure on firms aiming for investor confidence.
According to Lukas Muehlbauer from IPOX Research, this trend has sparked a “flight to quality,” directing investments toward established and regulated firms like BitGo, while riskier initiatives may struggle.
BitGo’s Roadmap to IPO Success
Despite existing challenges, BitGo is strategically positioned to capitalize on a resurgence in market momentum expected in early 2026, with favorable conditions anticipated for medium-sized IPOs.
The company has secured Goldman Sachs as its lead book-running manager, with Citigroup and a host of other institutions participating in the offering, such as Deutsche Bank Securities, Mizuho, and Wells Fargo Securities.
Additionally, Clear Street, Compass Point, Craig-Hallum, Rosenblatt, Wedbush Securities, and SoFi are also involved as co-managers. BitGo aims to list its shares on the New York Stock Exchange under the ticker symbol “BTGO.”
Importantly, BitGo is one of just a few crypto entities, including Ripple, Circle, and Fidelity Digital Assets, approved for national trust charter applications by the US Office of the Comptroller of the Currency (OCC) last December.
This charter would enable BitGo to effectively manage customer assets and enhance settlement speed—an advancement that could significantly improve its competitive standing in the continuously evolving field of cryptocurrency and digital finance.
Image sourced from DALL-E; chart data from TradingView.com.
