Cryptocurrency custodian BitGo set its share price for its initial public offering (IPO) on Tuesday, valuing shares at $18, according to a press release from the company. The South Dakota-based firm is set to trade under the ticker BTGO on the New York Stock Exchange (NYSE).
The firm raised $212.8 million from the IPO, valuing the company at over $2.1 billion, according to Bloomberg.
BitGo said it will sell an aggregate of 11,821,595 shares of Class A common stock in the offering. The shares include 11,026,365 shares offered by the company and 795,230 shares offered by certain existing stockholders. The company said it will not receive any proceeds from the sale of shares by selling stockholders.
The shares are expected to begin trading on the New York Stock Exchange on Tuesday, with the offering expected to close on Wednesday.
Goldman Sachs acted as lead book-running manager for the offering, with Citigroup also serving as a book-running manager. Deutsche Bank Securities, Mizuho, Wells Fargo Securities, Keefe, Bruyette & Woods, A Stifel Company, Canaccord Genuity, and Cantor are also acting as book-running managers. Clear Street, Compass Point, Craig-Hallum, Rosenblatt, Wedbush Securities, and SoFi are acting as co-managers, the company said.
Founded in 2013, BitGo operates as a digital asset infrastructure provider offering custody, wallets, staking, trading, financing, stablecoins, and settlement services.
The IPO is the first major crypto-related listing of 2026, with exchange Kraken and ETF-provider Grayscale likely to follow sometime during the year.
