BitGo targets a $201M IPO after quadrupling its revenue to $4.2B

2026-01-13 01:24:40

Source: Yellow Original Title: BitGo targets a $201M IPO after quadrupling revenue to $4.2B

Original Link: https://yellow.com/es/news/bitgo-apunta-a-una-opv-de-201-m-tras-cuadruplicar-sus-ingresos-hasta-42-b Crypto custodian BitGo has filed to raise $201 million in an initial public offering in the United States, valuing the company at approximately $1.85 billion.

The Palo Alto-based firm plans to sell 11 million shares at between $15 and $17 each on the New York Stock Exchange under the ticker “BTGO.”

Goldman Sachs and Citigroup are leading the syndicate for the offering announced on Monday.

What happened

BitGo and existing shareholders offered a total of 11.8 million shares.

Revenue reached $4.19 billion in the first half of 2025, nearly quadrupling from $1.12 billion.

The company manages $90 billion in cryptocurrencies for 1.14 million users.

Net profit fell to $12.6 million from $30.9 million despite increased revenue, due to higher operating costs.

Why it matters

BitGo received conditional approval from the Office of the Comptroller of the Currency in December 2025 to operate as a national trust bank.

The license positions BitGo to qualify as a stablecoin issuer under new federal legislation.

The IPO follows recent listings of Circle, Bullish, and Figure, as Wall Street adopts crypto infrastructure companies.

Founder Mike Belshe will retain majority voting control through a dual-class share structure.

The offering marks the first major crypto IPO of 2026, after the market-wide sell-off in October raised the bar for digital asset companies to gain investor support.

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