BitGo targets $1.96B valuation, seeks $201M in US IPO amid crypto rebound push

BitGo Holdings, Inc., a California-based cryptocurrency custody firm, has announced its plans to raise $201 million as it lists in the United States via an initial public offering (IPO).

According to details, BitGo targets a valuation of up to $1.96 billion for its US IPO, with the company looking to capitalize on growing institutional interest in digital assets and a recovering market for crypto-related listings.

BitGo intends to offer 11.8 million shares, priced between $15 and $17 each, in a move that could raise as much as $201 million.

The crypto firm, increasingly a major player across the industry, has tapped Goldman Sachs and Citigroup to serve as the lead underwriters for the offering.

Upon completion, BitGo plans to list its Class A common stock on the New York Stock Exchange and will trade under the ticker symbol “BTGO.”

Key milestone for BitGo

Founded in 2013, BitGo has established itself as one of the largest crypto custody providers in the United States.

The firm currently ranks as the top crypto custody and staking provider, and specializes in securely storing and protecting digital assets for institutional clients.

In recent years, this service has become increasingly critical as traditional finance players deepen their involvement in cryptocurrencies.

With institutional adoption on the rise, total assets on the platform have jumped to over $104 billion.

User adoption has also seen total wallets created surpass 9.3 million to make BitGo one of the key infrastructure players in the evolving crypto ecosystem.

The IPO comes as the next milestone in this growth.

Crypto IPO market in 2026

BitGo’s upcoming listing continues a notable trend across the cryptocurrency IPO market, which experienced a significant surge in 2025.

There were some mega listings that captured investor attention even as firms netted substantial capital.

Notable debuts included stablecoin issuer Circle, which went public on the NYSE, and trading platform Bullish.

Others include eToro. These high-profile offerings collectively helped crypto firms raise billions, and market observers anticipate that this momentum will accelerate in 2026.

Companies such as crypto exchange Kraken, which confidentially filed for a US IPO in late 2025 and is targeting a debut in the first half of the year, are poised to lead the next wave.

Other potential listings include Consensys, the infrastructure provider behind MetaMask.

Market eyes fresh momentum

BitGo confidentially filed a draft registration for an IPO in July last year.

The firm’s filing with the Securities and Exchange Commission eyed an initial public offering for Class A common stock at a time when crypto was experiencing notable upside momentum.

Bitcoin went on to spike to an all-time high above $126,000 in October.

However, tariff-related volatility, a lengthy US government shutdown, and a sell-off in AI stocks hit BTC and altcoins.

The headwinds combined to push prices lower as the top cryptocurrencies ended the year on a negative note.

The digital asset industry nonetheless is largely bullish, including around further regulatory clarity.

Investor interest in crypto stocks may thus rebound, and BitGo will look to explode on its debut.

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