Crypto custodian BitGo Holdings has priced its initial public offering at $18 per share, exceeding the previously marketed range of $15 to $17. The company will offer 11,026,365 Class A shares, with an additional 795,230 shares sold by existing shareholders, according to a Jan. 21 announcement. The offering is expected to raise approximately $212.8 million, with the company receiving most of the proceeds. Trading will commence on the New York Stock Exchange on Jan. 22 under the ticker BTGO.
Underwriting and Over-Allotment
Underwriters have a 30-day option to purchase up to 1.77 million additional shares. The offering is expected to close on Jan. 23, subject to customary conditions. Lead book-running managers Goldman Sachs and Citigroup are joined by a larger syndicate of financial institutions.
Company Background and Regulatory Boost
Founded in 2013, BitGo provides crypto custody, staking, wallet infrastructure, and settlement services for institutional clients. In late 2025, it received conditional approval for a U.S. banking charter, alongside Ripple and Circle, signaling strong regulatory confidence. The favorable U.S. crypto policy environment has driven institutional demand for compliant infrastructure, contributing to the IPO’s strong pricing.
Broader IPO Landscape
In 2025, 11 crypto IPOs raised approximately $14.6 billion collectively. While BitGo’s valuation of over $2 billion is modest compared to Circle’s $16.7 billion NYSE debut, its focus on custody generates predictable recurring revenue, offering a distinct value proposition to investors seeking stable exposure to the digital asset sector.