BitGo plans to raise up to $201 million in an IPO in the US

BitGo has announced that it is seeking to raise up to $201 million through an initial public offering (IPO) in the US, according to legal filings released on Monday. The company, headquartered in Palo Alto, California, along with several existing shareholders, will offer a total of 11.8 million shares at an expected price range of $15–17 per share.

The IPO comes amid a turbulent period for the digital asset industry, following a sharp sell-off in the crypto market in October, which has posed additional challenges for companies in the sector to attract investors.

Founded in 2013, BitGo is one of the largest crypto custody companies in the US, specializing in storing and safeguarding digital assets for clients — a role that is becoming increasingly important as institutional interest in crypto continues to grow.

Goldman Sachs and Citigroup are serving as the lead underwriters for the offering. BitGo plans to list on the New York Stock Exchange (NYSE) under the ticker symbol BTGO.