BitGo Holdings, a prominent player in the cryptocurrency custody sector, has officially filed for an initial public offering (IPO) with the US Securities and Exchange Commission (SEC). This move marks a significant step for the company as it seeks to expand its presence in the public market, and based on the data provided in the document, it could pave the way for increased investor interest in digital asset services.
BitGo's Upcoming IPO Details
The IPO will consist of 11 million shares of Class A common stock issued by BitGo, alongside 821,595 shares from existing stockholders. With an anticipated price range of $15 to $17 per share, the offering could potentially raise around $201 million, with total shares offered valued at approximately $118 million.
Background and Company Growth
This announcement follows BitGo's initial Form S-1 filing in September 2025, which indicated the company's plans to go public on the New York Stock Exchange under the ticker symbol BTGO. Since its inception in 2013, BitGo has accumulated over $90 billion in assets under custody, showcasing its growth and stability in the cryptocurrency market.
Valuation and Underwriters
In terms of valuation, BitGo is aiming for a target of up to $196 billion through this IPO. To facilitate the offering, the company has enlisted several major US investment banks as lead underwriters, including:
- Goldman Sachs as the lead book-running manager
- Citigroup as a book-running manager
It is important to note that while a registration statement for the Class A common stock has been filed with the SEC, it has not yet become effective, meaning that shares cannot be sold until this process is completed.
Recently, BitMine Chairman Tom Lee proposed a dramatic increase in the company's authorized share limit, which could significantly impact its financial strategy. For more details, see the full article here.
