BitGo Targets $201 Million Raise in NYSE IPO With Dual-Class Share Structure
BitGo has filed amended SEC paperwork for a $201 million IPO, offering 11 million Class A shares priced between $15-$17 each. The crypto custody firm plans to list on the NYSE under ticker 'BTGO,' capitalizing on institutional demand and clearer U.S. regulatory frameworks.
CEO Michael Belshe retains ironclad control through a dual-class structure—his Class B shares carry 15 votes each versus one vote per Class A share. The MOVE follows BitGo's recent acquisition of a conditional U.S. banking charter, signaling ambitions beyond digital asset custody.
Notably, the company won't benefit from the concurrent sale of 821,595 shares by existing stakeholders. This IPO arrives as BitGo reports surging 2025 revenue growth, fueled by institutional clients seeking regulated crypto infrastructure.