BitGo Holdings, a major cryptocurrency custody firm, has initiated its initial public offering (IPO), according to a Form S-1 submitted to the U.S. Securities and Exchange Commission (SEC).
The filing states the offering will comprise 11 million shares of the company’s Class A common stock, plus 821,595 shares to be sold by existing stockholders. The company announced the launch of the offering on Monday.
Based on an expected price range of $15 to $17 per share, the IPO could raise up to $201 million, with total shares offered amounting to approximately 11.8 million.
This announcement follows BitGo’s initial Form S-1 filing with the SEC in September 2025, when it first indicated plans to list on the New York Stock Exchange under the ticker “BTGO.”
$1.96 billion valuation; more than $90 billion in assets under custody
BitGo’s IPO comes as the company reports more than $90 billion in assets under custody since launching its platform in 2013. The offering is expected to target a valuation of up to $1.96 billion.
For the IPO, BitGo has appointed several major U.S. banks as lead underwriters, with Goldman Sachs serving as lead book-running manager and Citigroup as a book-running manager.
Additional book-running managers include Deutsche Bank Securities, Mizuho, Wells Fargo Securities, Keefe, Bruyette & Woods, Canaccord Genuity and Cantor. Co-managers are Clear Street, Compass Point, Craig-Hallum, Rosenblatt, Wedbush Securities and SoFi.
“A registration statement relating to the Class A common stock has been filed with the SEC but has not yet become effective,” the company said. BitGo added that shares of Class A common stock may not be sold, and offers to buy may not be accepted, until the registration statement becomes effective.
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