BitGo files for IPO, targets valuation near $2 billion

A California-based company that safeguards cryptocurrency for investors announced Monday it wants to sell stock to the public for the first time, aiming for a company worth as much as $1.96 billion.

BitGo plans to sell 11. 8 million shares at a price between $15 and $17 per share, according to company documents. The sale could bring in as much as $201 million for BitGo and some current owners who also plan to sell their stakes.

The Palo Alto company picked Goldman Sachs and Citigroup to manage the stock sale. BitGo will trade on the New York Stock Exchange using the ticker symbol “BTGO.”

Started in 2013, BitGo ranks among the biggest custody providers in the United States for digital currencies. The company holds and secures cryptocurrency for customers, a service that has become more critical as banks and other large institutions have started buying digital assets.

Market conditions improving

The company’s plans come as the market for new stock sales picked up steam in 2025 following nearly three years of limited activity. But hopes for a bigger comeback hit roadblocks due to swings in the market caused by tariff concerns, a lengthy shutdown of federal operations, and a sharp drop in artificial intelligence stock prices late in the year.

Market watchers think the trend of companies going public will keep improving in 2026. Several other cryptocurrency and financial technology businesses have said they plan to sell shares, including British digital bank Revolut, crypto trading platform Kraken, and Japanese payment service PayPay.

Kraken quietly filed paperwork in November for a US stock offering. Last year, stablecoin company Circle and crypto exchange Bullish both launched their shares. But the digital currency sector has hit rough waters recently. A major selloff in October 2025 has made it harder for crypto companies to win over investors.

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