BitGo targets nearly $2b valuation in IPO bid as crypto listings stir back to life

Crypto custody firm BitGo is aiming for a valuation of up to $1.96 billion as it tests investor appetite with a long-awaited U.S. initial public offering, marking another cautious step in the digital-asset sector’s return to public markets.

The Palo Alto–based company said Monday it plans to raise as much as $201 million by selling 11.8 million shares priced between $15 and $17 each, according to its IPO filing.

BitGo and certain existing shareholders are offering the stock, which is slated to trade on the New York Stock Exchange under the ticker BTGO. Goldman Sachs and Citigroup are leading the offering.

Founded in 2013, BitGo is one of the largest U.S. crypto custody providers, securing digital assets for institutions at a time when banks, asset managers, and corporates have expanded their exposure to cryptocurrencies. That role has grown increasingly central as institutional demand for secure storage and compliance-focused infrastructure has intensified.

The IPO comes as new listings began to rebound in 2025 after nearly three years of muted activity, though volatility—from tariff concerns to a government shutdown and a late-year slump in AI stocks—tempered expectations for a full revival. Market participants expect IPO momentum to improve further in 2026.

BitGo joins a pipeline of crypto and fintech firms eyeing public markets, including Revolut, Kraken, and PayPay. Yet sentiment remains fragile following a sharp crypto selloff in October 2025, underscoring the tightrope digital-asset companies face as they seek public investors.