BitGo, a U.S. crypto custody firm, plans to raise up to $201 million in a U.S. IPO by offering 11.8 million Class A shares, targeting a $2 billion valuation.
This IPO signals increasing interest in crypto custody amid regulatory oversight, illustrating investor confidence in secure digital asset management.
BitGo Targets $2 Billion US IPO Valuation
BitGo, a major crypto custody firm, has filed for a US IPO targeting a $2 billion valuation. Founded in 2013, the firm plans to issue 11.8 million Class A shares priced between $15 and $17 each.
Key players include BitGo, underwriters Goldman Sachs and Citigroup, with existing stockholders selling approximately 821,600 shares. The IPO will list on the NYSE under the ticker BTGO, aiming to raise $201 million.
IPO to Test Crypto Market Confidence
The IPO is seen as a significant test of investor appetite in the crypto sector for custody-based models amid market volatility and regulatory scrutiny. BitGo aims to leverage its institutional-grade crypto infrastructure in this venture.
โBitGoโs IPO reflects a growing appetite for custody-focused businesses as the market evolves.โ
The IPO is poised to shape financial and technological outcomes, drawing parallels with post-2025 market recovery trends. With emphasis on asset protection and compliance, BitGoโs IPO highlights the evolving landscape of digital custody services.
Crypto IPOs: A Growing Trend in 2023
Similar to other crypto IPOs, BitGoโs listing follows previous attempts by Circle and Bullish. These events highlight a wave of crypto firms exiting for public listings after significant market stabilization in recent years.
Analysts from Kanalcoin suggest that BitGoโs move may strengthen confidence in the viability and profitability of crypto custody services, further validating its model amid investor interest in secure digital asset storage practices.
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