BitGo Targets $1.96 Billion IPO

BitGo, a crypto custody startup, announced its intention to go public with an initial public offering (IPO) in the U.S., targeting a valuation of up to $1.96 billion. The company and its existing shareholders aim to raise $201 million by offering 11.8 million shares priced between $15 and $17 each. Goldman Sachs and Citigroup are the lead underwriters for the offering, which will list on the New York Stock Exchange under the symbol 'BTGO'. This move comes as the IPO market is expected to continue its recovery in 2026, following a momentum started in 2025, and despite challenges like tariff-driven volatility and a selloff in AI stocks. Other crypto firms, including Kraken, Circle Internet Group, and Bullish, have also made or plan to make their public debuts, indicating a growing trend in the digital asset industry. Analysts like Lukas Muehlbauer view BitGo as a defensive play within the sector, capitalizing on early 2026 market momentum.