On January 12, Reuters reported that crypto asset custody startup BitGo disclosed in regulatory filings on Monday that it plans to raise up to $201 million through a U.S. initial public offering (IPO). The Palo Alto, California-based company and some of its existing shareholders will offer 11.8 million shares, priced between $15 and $17 per share.
Founded in 2013, BitGo is one of the largest crypto custody companies in the United States. With the growing institutional interest in crypto assets, the company's function of storing and protecting clients' digital assets has become increasingly important. Goldman Sachs and Citigroup are the lead underwriters for this offering. BitGo plans to list on the New York Stock Exchange under the ticker symbol "BTGO".
