BitGo Holdings, one of the largest cryptocurrency custody firms in the United States, has officially launched its initial public offering process, aiming to raise up to $201 million and secure a valuation close to $1.96 billion. The company disclosed the details in a filing with the US Securities and Exchange Commission, marking a major step in its long planned move toward the public markets.
Details of the IPO filing
According to its Form S-1 filing with the SEC, BitGo plans to offer 11 million shares of Class A common stock issued by the company. In addition, existing shareholders will sell 821,595 shares as part of the offering. In total, around 11.8 million shares will be made available to investors.
The company has set an expected price range of $15 to $17 per share. At the top end of that range, the IPO could generate proceeds of up to $201 million. BitGo announced the formal launch of the offering on Monday, though trading will begin only after the registration statement becomes effective.
Valuation target and custody scale
BitGo is seeking a valuation of approximately $1.96 billion through the IPO. The company has built a strong position in the digital asset infrastructure space, reporting more than $90 billion in assets under custody since its founding in 2013.
The firm provides custody, trading, staking and settlement services to institutional investors, exchanges and financial firms. Its growth reflects rising institutional demand for regulated and secure crypto custody solutions, particularly in the US market.
NYSE listing plans
BitGo first revealed its intention to go public in September 2025, when it confidentially filed its initial Form S-1 with the SEC. The company plans to list its shares on the New York Stock Exchange under the ticker symbol BTGO.
If successful, the listing would place BitGo among a small but growing group of crypto focused firms trading on major US stock exchanges. The move also signals continued interest from traditional financial markets in blockchain related infrastructure, even amid ongoing regulatory scrutiny of the sector.
Major banks lead the offering
Several prominent US and international investment banks are backing the IPO. Goldman Sachs is acting as the lead book running manager, while Citigroup is serving as a book running manager.
Other book running managers include Deutsche Bank Securities, Mizuho, Wells Fargo Securities, Keefe, Bruyette and Woods, Canaccord Genuity and Cantor. Co managers for the offering include Clear Street, Compass Point, Craig Hallum, Rosenblatt, Wedbush Securities and SoFi.
The involvement of multiple top tier banks underscores Wall Street’s confidence in BitGo’s business model and its role within the digital asset ecosystem.
Regulatory status and next steps
BitGo emphasized that the registration statement has been filed with the SEC but has not yet become effective. As a result, shares cannot be sold and offers to buy cannot be accepted until regulatory approval is granted.
The final pricing and timing of the IPO will depend on market conditions and the completion of the SEC review process. Investors and industry watchers are closely tracking the offering, as it could serve as a key indicator of public market appetite for crypto infrastructure companies.
