Cryptocurrency custodian BitGo has officially set its share price for its upcoming initial public offering (IPO) at $18 per share, as announced in a press release from the company. Based in South Dakota, BitGo intends to trade under the ticker symbol BTGO on the New York Stock Exchange (NYSE).
The IPO is projected to raise approximately $212.8 million, bringing the company’s valuation to over $2.1 billion, according to information provided by Bloomberg. In detail, BitGo plans to sell a total of 11,821,595 shares of Class A common stock in this offering. Out of that total, 11,026,365 shares are being offered directly by the company, while an additional 795,230 shares are being sold by existing stockholders; importantly, BitGo will not receive any proceeds from the shares sold by these stockholders.
Trading for the newly issued shares is anticipated to commence on Tuesday, with the overall offering set to close on the following Wednesday. The financial heavyweights Goldman Sachs and Citigroup are leading the underwriting for the offering, with several other financial institutions providing support in various capacities. The other book-running managers involved are Deutsche Bank Securities, Mizuho, Wells Fargo Securities, Keefe, Bruyette & Woods, A Stifel Company, Canaccord Genuity, and Cantor. Additionally, Clear Street, Compass Point, Craig-Hallum, Rosenblatt, Wedbush Securities, and SoFi are noted as co-managers for the IPO.
Founded in 2013, BitGo has established itself as a prominent digital asset infrastructure provider. The firm offers a wide range of services, including custody, wallets, staking, trading, financing, stablecoins, and settlement solutions, making it a key player in the cryptocurrency ecosystem.
This IPO marks a notable event as the first significant cryptocurrency-related listing of 2026, setting the stage for other companies in the sector, such as exchange Kraken and ETF-provider Grayscale, to potentially follow suit later in the year.
