Bitgo IPO

BitGo’s Big Moment: Crypto Custody Giant Goes Public

In early **2026, BitGo — one of the most established firms in the cryptocurrency infrastructure space — launched its long-anticipated initial public offering (IPO), marking a watershed moment for the digital-asset industry. The offering, expected to trade under the ticker BTGO on the New York Stock Exchange, positions BitGo as one of the first major crypto firms to hit the public markets in the emerging post-ETF era.

Who Is BitGo?

Founded in 2013 by Mike Belshe and Ben Davenport, BitGo has steadily grown from a niche Mult signature wallet provider into a full-blown institutional digital-asset infrastructure company. Its core business revolves around custody and security solutions — protecting and managing cryptocurrencies on behalf of institutional clients such as asset managers, exchanges, banks, and hedge funds. Over the years, the company has expanded into trading, staking, lending, and settlement services.

As of 2025, BitGo reported managing more than $90 billion in assets on its platform, serving thousands of institutional clients and over a million individual users worldwide.

The IPO: Numbers and Mechanics

BitGo’s IPO reflects both the company’s growth and the broader maturation of the cryptocurrency ecosystem:

• Share Details: BitGo offered ~11.8 million shares of Class A common stock, priced between $15 and $17 per share.

• Valuation: At the proposed pricing range, the firm targeted a valuation of up to nearly $2 billion — signaling strong investor interest in regulated crypto infrastructure plays.

• Proceeds: The deal was structured to raise approximately $201 million for BitGo and some selling shareholders.

• Underwriters: The IPO was led by major Wall Street firms including Goldman Sachs and Citigroup, among others — a vote of confidence from traditional finance.

Importantly, BitGo’s corporate structure preserves founder control through a dual-class share system, a common mechanism in tech IPOs that limits outside shareholder influence on governance.

Why the IPO Matters

BitGo’s public listing isn’t just another fintech debut — it’s a bellwether event for crypto markets. After a turbulent period in the asset class, a successful IPO from a core infrastructure provider suggests improving investor confidence and regulatory clarity.

Unlike many blockchain projects that went public via SPACs or unconventional routes, BitGo chose a traditional IPO, signaling maturity and discipline. Its offering also follows a wave of high-profile crypto market developments — including the launch of spot Bitcoin and Ether ETFs and a more structured regulatory environment in the U.S. and EU.

For investors, the IPO provides exposure to the backbone of institutional crypto activity rather than to any single token — a narrative that resonates in markets wary of volatility. And for the industry, it could pave the way for other unicorns to make the leap to public markets.