BitGo Files for $200M IPO Amid Crypto Custody Boom
BitGo, the Palo Alto-based cryptocurrency custody provider, has filed for a U.S. initial public offering targeting up to $201 million. The company plans to sell 11.8 million shares priced between $15 and $17, potentially valuing it at $1.96 billion. Goldman Sachs and Citigroup are leading the offering, with a planned NYSE listing under ticker "BTGO."
The MOVE signals growing institutional demand for digital asset security as traditional finance firms expand into crypto markets. BitGo’s IPO follows public debuts by Circle and Bullish in 2025, while Kraken prepares its own listing.
Market conditions present challenges: October’s crypto downturn has sharpened investor scrutiny, and capital has shifted toward regulated operations amid tech valuation pressures. The offering will test public market appetite for crypto infrastructure plays during this transitional phase.
