Coinspeaker
Jan 12, 2026
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BitGo Targets $1.96B Valuation, Plans $201M in 2026 Crypto IPO

BitGo Holdings IPO Announcement

  • BitGo Holdings plans an IPO for early 2026, aiming for a valuation of up to $1.96 billion.
  • The company will offer approximately 11.8 million shares priced between $15 and $17, potentially raising up to $201 million.
  • Goldman Sachs and Citigroup are underwriting the offering.

Financial Performance

  • Estimated revenue for 2025 is around $16.05 billion, a significant increase from $3.08 billion in 2024.
  • Generated $2.6 million income in the first nine months of 2025, with net income reaching $35.3 million due to unrealized gains on digital assets.

Federal Banking Charter

  • The Office of the Comptroller of the Currency conditionally approved BitGo Trust Company to convert to a nationally chartered trust bank.
  • BitGo was one of five crypto firms to receive federal charter approvals in December 2025.

Governance and Market Position

  • Assets on BitGo's platform decreased by 22% in Q4 2025 to $81.6 billion.
  • Around 80% of these assets are concentrated in five tokens, with Bitcoin representing 42.8%.
  • CEO Michael Belshe will have 55.5% voting power through a dual-class share structure, despite owning 7.7% economic interest.

Additional Information

  • BitGo intends to list on the NYSE under the ticker "BTGO."
  • Kraken also filed for a US IPO, targeting Q1 2026, following an $800 million fundraising at a $20 billion valuation.