BitGo Sets Sights on Public Markets With $2B Valuation Target

Crypto custody firm BitGo has taken a decisive step toward the public markets. The move signals growing confidence in renewed investor interest across the digital asset sector.

The company revealed plans to move forward with a U.S. initial public offering that could value the business at nearly $2 billion. The decision comes despite renewed volatility in crypto markets and growing caution among investors.

BitGo Targets Strong Valuation in IPO Plan

BitGo revealed on Monday that it aims for a valuation of up to $1.96 billion in its planned U.S. IPO. The Palo Alto, California-based company, together with some existing shareholders, plans to raise up to $201 million. 

The capital would come from the sale of 11.8 million shares. The proposed price range stands between $15 and $17 per share, reflecting measured optimism rather than aggressive pricing.

This move highlights growing confidence that public market investors remain willing to back crypto firms with clear business models and institutional relevance.

BitGo plans to list its shares on the New York Stock Exchange under the ticker symbol “BTGO.” Investment banking giants Goldman Sachs and Citigroup will serve as lead underwriters for the offering.

Founded in 2013, BitGo has grown into one of the largest crypto custody firms in the United States. The company specializes in storing and securing digital assets for institutional clients. 

This service has become increasingly critical as banks, funds, and asset managers expand their exposure to crypto markets. As regulation tightens and institutional participation increases, custody services like BitGo’s have shifted in importance. 

IPO Market Shows Signs of Recovery

The U.S. IPO market regained momentum in 2025 after nearly three years of weak activity. However, the rebound did not unfold smoothly. Tariff-related market swings and a prolonged U.S. government shutdown unsettled investor confidence. 

A sharp late-year selloff in artificial intelligence (AI) stocks further dampened expectations for a full recovery. Despite these challenges, analysts expect the IPO market to strengthen further in 2026. 

Several high-profile crypto and fintech companies have already signaled plans to go public. These include UK-based neobank Revolut, crypto exchange Kraken, and Japan’s payments platform PayPay. 

Crypto Firms Return to Public Listings

With its IPO plans public, BitGo joins a new wave of crypto firms entering the market. The move will test whether investors still back essential digital infrastructure despite ongoing volatility.

Kraken, one of the world’s largest crypto exchanges, confidentially filed for a U.S. IPO in November. Last year also delivered strong public debuts from digital asset firms such as stablecoin issuer Circle and crypto exchange Bullish. 

Both listings drew significant attention from investors across global markets. Still, the sector now faces renewed pressure.  A sharp crypto market selloff in October introduced fresh uncertainty and raised expectations for companies seeking public backing. Investors now demand stronger fundamentals, clearer revenue paths, and robust risk controls.