According to a Reuters report on January 12, 2026, cryptocurrency custody giant BitGo announced updated details of its U.S. initial public offering (IPO). The company plans to issue approximately 11.8 million Class A common shares, priced between $15 and $17 per share. At the highest price of $17, the maximum fundraising could reach $201 million. The majority of the shares will be issued by the company itself, with a smaller portion sold by existing shareholders. However, the company will not receive any proceeds from the shareholder sales. Specific details of the listing include:
- Listing venue: New York Stock Exchange (NYSE)
- Stock Code: BTGO
- Lead underwriters: Goldman Sachs and Citigroup
The IPO targets a valuation of up to $1.96 billion, reflecting the market's continued focus on crypto infrastructure companies.
BitGo's business scale and market position
BitGo is one of the largest cryptocurrency custody providers in the United States, specializing in providing secure storage and management services for institutional and high-net-worth clients. Currently, it serves over 4,600 institutional clients and high-net-worth individuals, as well as over 1.1 million end users, operating in more than 100 countries worldwide and supporting over 1,400 digital assets. BitGo offers a one-stop service, including custody, wallets, multi-signature technology, staking, trading, and settlement, becoming a key bridge for institutional investors to securely enter the cryptocurrency world.
Background: From S-1 filing to institutional adoption of expedited processing
Back in September 2025, BitGo publicly filed its S-1 registration statement, disclosing impressive performance: revenue of approximately $4.19 billion in the first half of 2025, nearly four times the $1.12 billion in the same period of 2024; and platform assets on platform of approximately $90.3 billion (as of June 30, 2025). Although net profit declined slightly due to rising operating costs, the overall performance demonstrated strong growth momentum.
This IPO is seen by the market as a significant milestone in the convergence of the crypto industry's "infrastructure" with mainstream finance. Especially against the backdrop of continued strength in the prices of major assets such as Bitcoin and a significant acceleration in institutional adoption, BitGo's professional custody services are meeting the needs of global institutions for secure and compliant digital asset management.
Meanwhile, this IPO not only marks a significant turning point in the company's development but also symbolizes the growing recognition of crypto infrastructure by traditional capital markets. With the global digital asset market already exceeding trillions of dollars and institutional participation continuing to rise, BTGO is poised to become another highly anticipated crypto "infrastructure stock," following in the footsteps of Circle and Bullish.
Further Reading: BitGo formally files for a US IPO with the SEC; revenue to exceed $4.19 billion in the first half of 2025.
