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Crypto custodian BitGo priced its U.S. initial public offering at $18 per share — above its initial $15-$17 range — suggesting a valuation above $2B as it begins trading on the New York Stock Exchange.
What's the Scoop?
- Market Position: Founded in 2013, BitGo manages $104B in assets and provides custody, wallets, staking, and settlement services across the crypto industry.
- Offering Details: The IPO consists of 11.8M Class A shares, with BitGo selling 11M directly and existing stockholders selling ~795K.
- Trading Timeline: Shares begin trading today under ticker "BTGO," with Goldman Sachs and Citigroup serving as lead book-runners.
- Banking Charter: In December 2025, BitGo received conditional approval for a U.S. banking charter alongside
Ripple and Circle, positioning it to operate as a federally regulated trust bank.
Bankless Take:
As the first major crypto-related IPO of the year, the offering's repricing reinforces what we know — there’s strong institutional appetite for crypto. Yet, with a series of crypto IPOs slated for launch this year — 
Kraken and Consensys, in particular — we’ll see if capital stays with BitGo, or churns through to new opportunities once they come along.
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