Crypto custody firm BitGo announced on Monday that it aims for a valuation of up to $1.96 billion in its upcoming initial public offering (IPO) in the United States, amid major interest by these firms to trade in public markets.
Investing Climate Remains ShakyFollowing a strong showing for other major crypto firms in 2025, including successful market debuts from stablecoin issuer Circle (CRCL) and cryptocurrency exchange Bullish (BLSH), BitGo is entering a competitive landscape. Crypto exchange Kraken is also looking to go public.
According to Lukas Muehlbauer, an IPOX research analyst, this shift has led to a “flight to quality,” favoring established and regulated companies like BitGo over more speculative ventures.
BitGo Targets IPO SuccessDespite the challenges, BitGo aims to leverage positive market momentum in early 2026, when outperformance by small and mid-cap indices could provide a favorable environment for mid-sized offerings.
Clear Street, Compass Point, Craig-Hallum, Rosenblatt, Wedbush Securities, and SoFi will act as co-managers. BitGo plans to list its shares on the New York Stock Exchange under the ticker symbol “BTGO.”
This national trust bank charter would empower BitGo to manage and hold assets for its customers, enabling faster payment settlements—a move that could bolster the firm’s competitive edge in the evolving landscape of cryptocurrency and digital finance.
Featured image from DALL-E, chart from TradingView.com
