Crypto Firm BitGo Eyes Near $2 Billion Valuation in US IPO
Crypto custody firm BitGo has launched its IPO, aiming to raise up to $201 million at a near $2 billion valuation.Summary
Crypto custody firm BitGo has officially launched its initial public offering (IPO), seeking to raise up to $201 million based on filings with the U.S. Securities and Exchange Commission. The Palo Alto-based company plans to offer approximately 11.8 million shares of Class A common stock at a price range of $15 to $17 per share, listing on the NYSE under the ticker BTGO. Goldman Sachs is leading the underwriting. Founded in 2013, BitGo is a major U.S. crypto custodian. This IPO follows BitGo receiving conditional approval from the OCC in December to become a federally chartered national trust bank. Unlike exchange-led listings, BitGo's business model focuses on custody, compliance, and infrastructure services, which may appeal to regulators and investors cautious about trading-focused crypto businesses.
(Source：Bitcoin Magazine)