BitGo Holdings, a provider of digital asset infrastructure, has initiated its initial public offering (IPO). The company, founded in 2013, specializes in secure custody, wallets, staking, trading, and settlement services for institutional clients and investors worldwide. This IPO involves approximately 11.8 million shares of Class A common stock, with BitGo offering 11 million shares directly and existing shareholders contributing the remainder.
The anticipated price range fell somewhere between $15 and $17 per share, potentially valuing the firm at around $1.75 billion at the upper end.
Underwriters, led by Goldman Sachs and Citigroup, have an option to acquire an additional 1.77 million shares. BitGo will now list on the New York Stock Exchange under the ticker “BTGO,” marking a step toward broader mainstream adoption for crypto custodians.
This development follows a wave of public listings in the digital assets space.
Coinbase, the largest U.S. crypto exchange, set the precedent in 2021 with a direct listing that valued it at over $85 billion initially, though it has since navigated sharp price fluctuations tied to Bitcoin’s cycles.
More recently, Circle, issuer of the USDC stablecoin, went public on the NYSE in June 2025, raising $1.05 billion at $31 per share.
Its stock surged dramatically in the early days, reaching highs around $270, but by late 2025, it had retreated to near $70, reflecting ongoing market pressures.
Looking ahead, several other firms are eyeing 2026 debuts. Consensys, a blockchain software company behind MetaMask, is planning an IPO potentially valued at $7 billion.
Animoca Brands, a gaming and NFT powerhouse, is pursuing a NASDAQ reverse merger.
Hardware wallet maker Ledger and trading platform Bullish are also among those “probable” or actively preparing for public offerings, signaling sustained momentum.
Newly launched IPOs, particularly in emerging sectors like digital assets, often exhibit high volatility.
This stems from factors such as speculative trading, economic shifts, and regulatory uncertainties.
For instance, Circle‘s shares doubled shortly after debut but later dropped nearly 70% from peaks, mirroring broader patterns seen in tech IPOs where initial hype gives way to corrections.
In crypto, this is amplified by the asset class’s inherent price swings—Bitcoin’s volatility index frequently exceeds traditional stocks—making these listings riskier for retail investors but attractive for those betting on long-term growth.
Despite these challenges, such IPOs underscore digital assets’ evolution into a core component of modern finance. Once viewed as fringe, cryptocurrencies now facilitate trillions in transactions, with institutions like BlackRock and Fidelity integrating them via ETFs and custody solutions.
Stablecoins like USDC enable seamless cross-border payments, while blockchain tech enhances transparency in lending and trading.
The surge in crypto VC funding to $19.7 billion in 2025 highlights investor confidence, driven by regulatory clarity under pro-crypto policies.
Predictions for 2026 point to further institutional inflows, record M&A, and tokenization of real-world assets, positioning these IPOs as milestones in bridging traditional and decentralized finance.
As firms like BitGo go public in 2026 and beyond, they not only access capital but also legitimize the industry, paving the way for widespread adoption.
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