BitGo Targets $1.96 Billion Valuation in Upcoming US IPO

Crypto custody firm BitGo has announced plans to raise up to $201 million through an initial public offering (IPO) in the United States. The company is seeking a valuation of up to $1.96 billion as it prepares to list its shares on the New York Stock Exchange under the ticker "BTGO."

According to the proposal, the offering will consist of approximately 11.8 million Class A common shares, with 11 million newly issued by BitGo Holdings and 821,595 shares sold by existing stockholders. The company has set a price range of $15 to $17 per share.

The listing arrives amid a cautious recovery in the US IPO market following a volatile 2025, which has been impacted by macroeconomic challenges such as tariffs and a government shutdown. BitGo's move follows other recent industry listings, including stablecoin issuer Circle and crypto exchange Bullish, while competitor Kraken has also signaled intent to go public.

BitGo has appointed Goldman Sachs as the lead book-running manager for the offering, with Citigroup serving as a joint book-running manager. The capital raise is intended to support investments in technology, compliance, and expansion.