๐ BitGo (BTGO) Goes Public at $18 | Big Win for Crypto Infrastructure!
Crypto custody giant BitGo Holdings has officially priced its IPO at $18, above the expected range, raising $212.8M and securing a $2.1B valuation ๐ฐ
๐ Whatโs driving the hype?
โข 11.8M shares sold with strong institutional demand
โข First crypto firm to go public in 2026
โข Trading on the New York Stock Exchange under ticker BTGO ๐๏ธ
โข Underwriters include Goldman Sachs and Citigroup
๐ Why investors are bullish
BitGo is not a trading platform. It is focused on core crypto infrastructure.
โข $104B+ assets under custody, nearly 2x YoY ๐ฅ
โข 9-month revenue up 65% YoY to around $140M
โข Strong exposure to custody, staking, and institutional services
๐ Forward-looking outlook
According to VanEck, BitGo could generate $400M+ in revenue and $120M EBITDA by 2028, with a fair valuation near $2.4B ๐
That points to potential upside beyond IPO pricing.
โ ๏ธ Market reality check
Crypto markets remain volatile, but BTGOโs oversubscription, above-range pricing, and national trust bank charter give it a strong edge compared to past crypto IPOs.
Bottom line
Institutions are betting big on crypto infrastructure, not speculation.
Is BTGO the start of a new wave of crypto IPOs?
๐ Whatโs your take?