Crypto Custody Firm BitGo Files for $200M U.S. IPO at Near $2B Valuation
Crypto custody provider BitGo has filed for a U.S. initial public offering (IPO), signaling its ambition to become a public-facing leader in the digital asset space.
According to a Monday regulatory filing, the firm plans to trade 11.8 million shares at $15 to $17 each, targeting roughly $200 million in proceeds and valuing the company at approximately $1.96 billion.
The offering will be led by Goldman Sachs and Citi, with BitGo set to debut on the New York Stock platform under the ticker “BTGO” per .
BitGo’s move follows a wave of high-profile crypto IPOs in 2025, including , and digital asset platform Bullish, which raised $1.05 billion and $1.15 billion, respectively, on the NASDAQ. Unlike its predecessors, BitGo’s offering is more modest in size, reflecting both its niche as a custody-focused platform and the cautious sentiment currently permeating crypto markets.
Market dynamics may shape the IPO’s reception. The crypto sector has been navigating heightened capital outflows, with investors moving roughly $1.15 trillion out of digital assets since October, amid tighter global liquidity and geopolitical uncertainties. Analysts say these conditions have made investors more selective, scrutinizing where their capital flows.
Despite these headwinds, some market observers anticipate a potential stabilization in ahead 2026, as volatility eases and investor confidence sluggishly returns. BitGo’s IPO represents a statement of credibility and ambition in the institutional crypto custody market, particularly at a phase like this.
BitGo Expands Institutional Custody and Treasury Services
BitGo is by expanding custody services and corporate crypto treasury answers. The company now supports a wider range of institutional clients with secure cold storage, deep liquidity access, and enhanced compliance features, positioning itself as a key player in corporate digital asset management.
Recently, into a diversified crypto treasury, excluding stablecoins, signaling growing corporate interest in strategic crypto holdings.
The company is also in collaboration with StableX will provide institutional-grade custody for the platform’s planned $100 million digital asset treasury, further emphasizing the firm’s role in bridging traditional finance and crypto infrastructure.
