TLDR
- BitGo plans to raise up to $201 million in its upcoming IPO targeting a $1.85 billion valuation.
- The company will offer 11 million newly issued shares and 821,595 shares from current stockholders.
- BitGo’s revenue surged to nearly $10 billion in the first nine months of 2025, driven by trading and asset settlement services.
- The company aims to list its shares on the New York Stock Exchange under the ticker symbol “BTGO.”
- BitGo has recently received conditional approval to operate as a national trust bank, which may help with its growth.
Crypto custodian BitGo is planning to raise up to $201 million in its public market debut. The company is targeting a valuation of $1.85 billion, which sits at the midpoint of its offering range. The IPO aims to sell 11 million shares, priced between $15 and $17 per share. Another 821,595 shares will be offered by insiders in this deal, according to an updated filing with the U.S. Securities and Exchange Commission (SEC).
IPO Details and Pricing Range
BitGo’s offering consists of 11 million newly issued Class A common shares, along with 821,595 shares sold by current stockholders. The company has set a price range of $15 to $17 per share. At the midpoint of this range, BitGo would raise approximately $156.4 million in net proceeds.
The IPO will be listed on the New York Stock Exchange under the ticker symbol “BTGO.” The company filed for the IPO in September 2025, marking a significant step for the crypto firm as it seeks to go public.
BitGo, which provides self-custody wallets, regulated trust services, and prime brokerage, reported a sharp rise in revenue. The company’s revenue increased from $1.9 billion to nearly $10 billion in the first nine months of 2025. This growth came primarily from high-volume trading and digital asset settlement services, according to the filing. The net income also grew to $35.3 million during the same period, up from $21.2 million the previous year.
BitGo’s Market Position and Prospects
BitGo’s decision to push forward with its IPO comes at a time when the crypto industry is experiencing fluctuations in market confidence. Despite these fluctuations, the company sees potential in positioning itself as an infrastructure-focused player. Instead of relying on volatile trading volumes, BitGo aims to generate steady fee income from its asset safekeeping services.
The company recently received conditional approval from U.S. regulators to operate as a national trust bank. This approval could help BitGo qualify as a stablecoin issuer under the new federal GENIUS Act. This development may further enhance its prospects and attract investors who are cautious about crypto-related businesses.
BitGo’s push for a public listing reflects a broader trend of crypto-focused firms preparing to go public. The company’s IPO follows similar listings from other players in the crypto space, including Circle, Bullish, and Kraken. Despite the volatility in the market, these firms are looking to tap into investor interest in digital assets.
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