Published: Thursday, January 22, 2026 · 2:46 AM | Updated: Thursday, January 22, 2026 · 2:46 AM
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(Bloomberg) — BitGo Holdings Inc. and some of its backers raised $212.8 million in a US initial public offering, pricing its shares above the marketed range.
The cryptocurrency firm priced the shares at $18 each, according to a statement Wednesday confirming an earlier Bloomberg News report, above the marketed range of $15 to $17. BitGo sold 11.026 million shares and the selling shareholders sold 795,230 shares.
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The IPO was multiple times oversubscribed, people familiar with the matter have said.
At the IPO price, BitGo has a market value of about $2.1 billion based on the outstanding shares listed in its filings with the US Securities and Exchange Commission.
BitGo is the first crypto company to proceed with a US IPO in 2026, following a wave of listings in the sector last year. Crypto markets pulled back in the final months of the year, with Bitcoin prices falling 6.5% in 2025.
Co-founded as a crypto wallet company in 2013 by Chief Executive Officer Mike Belshe, BitGo now offers digital asset security, custody and liquidity. The firm is also the custodian and infrastructure provider for USD1, the stablecoin of US President Donald Trump-linked World Liberty Financial Inc. Donald Trump Jr. and Eric Trump are co-founders of the World Liberty Financial decentralized finance project.
Belshe is expected to maintain voting control of the company with 56% of the votes following the IPO, the filings show. Valor Equity Partners will have 4.6% of the voting power, and Redpoint Ventures will have 3.9% of the votes.
BitGo had net income attributable to shareholders of $8.1 million on revenue of $10 billion for the first nine months of 2025, compared with net income attributable to shareholders of $5.1 million on revenue of $1.9 billion a year earlier, according to the filings.
The offering is being led by Goldman Sachs Group Inc. and Citigroup Inc.. BitGo is expected to start trading on the New York Stock Exchange Thursday under the symbol BTGO.
(Updates with confirmation throughout.)
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