Hassan Maishera
TL;DR
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BitGo priced its initial public offering at $18 a share, valuing the crypto custody firm at about $2 billion.
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The firm is set to debut on the New York Stock Exchange (NYSE) soon under the ticker BTGO.
BitGo Eyes a $2B Valuation At Listing
Cryptocurrency custodian firm BitGo has priced its initial public offering at $18 per share late Tuesday, ahead of its highly-anticipated IPO later this year.
The offering values the firm at roughly $2 Billion on a fully diluted basis, a relatively modest entry point compared with other listed crypto-related firms whose valuations are often tied to volatile trading volumes.
BitGo is scheduled to start trading on the New York Stock Exchange on Wednesday under the ticker BTGO.
This latest development comes a week after BitGo announced plans to raise $201 million in its public market debut, setting its valuation at $1.85 billion.
BitGo is a US-based firm that offers a wide range of services, including self-custody wallets, regulated trust services, and prime brokerage.
Matthew Sigel, head of digital assets research at VanEck, pointed out that BitGo differs from various crypto firms that went public over the past year. Sigel noted that BitGo stands out as a custody-focused company with sticky, service-driven revenues that continued to grow even during 2025’s weak crypto markets.
The analyst added that BitGo could generate more than $400 million in revenue and over $120 million in EBITDA by 2028. This justifies a valuation above the IPO price and supports a premium multiple relative to trading-heavy peers like Coinbase or Galaxy Digital.
Sigel concluded that BitGo’s focus on custody and staking services ensures a more predictable earning than transaction-based businesses.
