BitGo Takes Step Toward IPO With SEC Filing and NYSE Plans

BitGo is officially moving closer to the public markets, setting the stage for one of the most closely watched crypto-related IPOs of the year.

The digital asset custody firm has filed updated paperwork with the U.S. Securities and Exchange Commission, confirming the launch of its long-anticipated public offering.

According to the filing, BitGo plans to sell 11 million newly issued Class A shares, while existing shareholders will offload an additional 821,595 shares. If priced within the indicated $15–$17 range, the deal could raise up to $201 million, putting the company’s implied valuation at roughly $1.96 billion.

From custody provider to public market contender

The move follows BitGo’s initial confidential filing in September 2025, when it first revealed plans to list on the New York Stock Exchange under the ticker BTGO. Monday’s announcement marks the shift from signaling intent to formally launching the offering process.

Founded in 2013, BitGo has grown into one of the largest crypto custodians globally, reporting more than $90 billion in assets under custody. Its business centers on secure storage, settlement, and infrastructure services for institutional clients – a segment that has expanded rapidly as banks, funds, and asset managers deepen their exposure to digital assets.

To lead the IPO, BitGo has assembled a heavyweight underwriting group. Goldman Sachs is serving as lead book-running manager, alongside Citigroup. Other book-runners include Deutsche Bank, Mizuho, Wells Fargo, Keefe, Bruyette & Woods, Canaccord Genuity, and Cantor, supported by a wider group of co-managers.

As is standard in the IPO process, BitGo noted that the registration statement has not yet become effective. Until it receives clearance from the SEC, shares cannot be sold and offers cannot be accepted.

The offering highlights a broader shift in the crypto sector, where infrastructure providers – rather than token issuers – are increasingly seen as the most viable candidates for public markets. If successful, BitGo’s IPO would strengthen the presence of institutional crypto firms on U.S. exchanges and provide a clearer valuation benchmark for digital asset custody businesses.

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