Crypto custodian BitGo filed to raise up to $201 million in its initial public offering, pricing shares between $15 and $17, with 11 million shares offered and an additional 821,595 shares by insiders, according to the latest SEC filing. The IPO sets a valuation near $1.85 billion.
The company reported nearly $10 billion in revenue for the first nine months of 2025, up from $1.9 billion during the same period in 2024. Net income reached $35.3 million, compared with $21.2 million a year earlier. Services include self-custody wallets, regulated trust operations, and prime brokerage.
BitGo recently received conditional approval to operate as a U.S. national trust bank, positioning it to potentially act as a stablecoin issuer under the federal GENIUS Act. The IPO aligns BitGo with other crypto infrastructure firms accessing public markets, such as Circle, Gemini, and Bullish.
Investors will watch for pricing and demand, as the offering signals growing appetite for regulated, revenue-generating crypto services.
Source: SEC filings and official company disclosures
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