Crypto firm BitGo targets valuation of up to $1.96 billion in US IPO — details here
Cryptocurrency custody startup BitGo said on Monday it is targeting a valuation of up to $1.96 billion in its U.S. initial public offering (IPO) to capitalize on growing investor appetite for crypto companies.
The listing comes at a time when demand for digital asset companies is increasing, driven by greater institutional participation in the sector as market sentiment increases and regulatory clarity increases.
The Palo Alto, California-based company, along with some existing shareholders, has a goal of raising up to $201 million through an IPO by offering 11.8 million shares. Reuters reported.
According to the regulatory filing, the company’s shares are expected to be priced between $15 and $17 each.
More crypto firms will go public this year
The IPO market is expected to remain on the recovery path this year and continue the momentum that began in 2025 despite various headwinds. These include tariff-induced market volatility, the impact of a prolonged government shutdown, and a sell-off in AI stocks towards the end of last year, all of which created uncertainty among investors.
Besides BitGo, several other crypto firms are also planning a public listing, including crypto exchange Kraken, after stablecoin issuer Circle and crypto exchange Bullish made a big debut on the exchange last year. Reuters he said in the news.
Crypto sector faces headwinds
The cryptocurrency industry has faced increasing turbulence following the sharp sell-off in October, making investors more cautious. As a result, companies looking to raise capital and have higher expectations from investors.
Since the recent pressure on AI and technology valuations has become even sharper, investors have become more wary of risky assets, leading to a “flight to quality” favoring regulated companies over more speculative crypto startups. IPOX research analyst Lukas Muehlbauer said this shift puts BitGo in a relatively defensive position in the crypto industry. Reuters.
However, Muehlbauer added, “The company aims to capitalize on the market momentum in early 2026, where small- and mid-cap index performance creates a positive window for mid-cap offerings like BitGo.”
All about BitGo
BitGo was founded in 2013 and has since become one of the largest crypto custody companies in the United States. It stores and protects digital assets for clients, a role that is gaining importance as institutional interest in crypto grows.
Goldman Sachs and Citigroup are acting as lead underwriters of the IPO. BitGo plans to list its shares on the New York Stock Exchange, where it will trade under the symbol “BTGO.”
