2025 saw several successful public offerings, especially from companies operating in the AI, cryptocurrency, and fintech spaces. What many on Wall Street are anxious to know is whether the IPO market—and its returns—will accelerate in 2026, or if investors will take a more cautious approach to newly public companies as inflationary pressures, the potential for a weakening economy, and a possible AI bubble weigh heavily on people’s minds.
The first real test of investor IPO appetite may come later this month, when cryptocurrency custody firm BitGo Holdings, Inc. is expected to go public. Here’s what you need to know about BitGo’s IPO.
What is BitGo?
BitGo Holdings is a cryptocurrency infrastructure company. One of its main functions is providing cryptocurrency custodial services.
Crypto custody companies provide storage and security for digital assets. Such companies are often used by large institutional investors to help manage risk and also meet regulatory guidelines. In contrast, many individual cryptocurrency investors still rely on personalized digital wallets to hold their tokens.
BitGo was founded in 2013 and is headquartered in Palo Alto, California. According to the company’s S-1 filing with the Securities and Exchange Commission, BitGo had 566 full-time employees as of September 30.
Over the past 12 months, ending September 30, the company says it generated total revenue of $11.1 billion. Its platform currently supports more than 1,550 assets with a total value of $104 billion.
When is BitGo’s IPO?
BitGo hasn’t set a date for its initial public offering yet. In its amended Form S-1 filing with the Securities and Exchange Commission (SEC) yesterday, the company merely mentioned its intention to go public. However, the amended filing suggests that the public offering will likely happen soon.
IPOscoop.com lists BitGo’s expected IPO date as Thursday, January 22, but BitGo has yet to publicly confirm that date.
What is BitGo’s stock ticker?
BitGo’s shares will trade under the stock ticker “BTGO.”
What market will BitGo’s shares trade on?
BitGo shares will trade on the New York Stock Exchange (NYSE).
What is the IPO share price of BTGO?
BitGo hasn’t decided on an exact IPO price yet. However, in the company’s amended SEC filing, the firm said it expects its shares to be priced at between $15 and $17.
How many BTGO shares are available in its IPO?
In total, 11,821,595 shares of BTGO Class A common stock will be made available in its IPO. Of those shares, BitGo itself is offering 11 million directly. The remaining shares will be offered by the company’s existing shareholders.
How much will BitGo raise in its IPO?
BitGo will not receive any proceeds from the roughly 821,000 shares its existing shareholders will sell. The company will only benefit from the funds raised from its 11 million share offering. With an expected IPO price of between $15 and $17 per share, BitGo is thus expected to raise between $165 million and $187 million.
When you add in the shares being sold by exiting shareholders, BitGo’s IPO could raise as much as $200 million in total.
How much is BitGo worth?
BitGo’s ultimate valuation depends on how much its shares finally list for—and how they perform on the stock market.
However, if BTGO shares do indeed IPO at the high-end range of $17 each, BitGo will have a valuation of around $1.96 billion, according to Reuters.
BitGo is hoping to repeat 2025’s crypto IPO successes
If BitGo does IPO this month as expected, it will likely be closely watched as it is not just one of the first tech IPOs of the year, but one of the first operating in the hot (and volatile) cryptocurrency space. Its IPO’s success or failure could signal whether investors have a robust appetite for public offerings in 2026, particularly those tied to crypto.
In 2025, several companies operating in the cryptocurrency space made successful IPO debuts. These include Circle Internet Group’s (NYSE: CRCL) initial public offering in June and Bullish’s (NYSE: BLSH) IPO in August.
