Executives from BitGo rang the opening bell at the New York Stock Exchange on Thursday, launching the company’s initial public offering to secure capital and institutional credibility. According to reports, the move marks BitGo’s U.S. market debut.
The firm priced its Class A shares at $18 each, above the $15–$17 expected range. It offered 111,821,595 shares, raising roughly $213 million and valuing the company at nearly $2 billion.
This IPO follows recent public listings by other crypto firms, including Circle, Bullish, and Gemini over the past year. The company had a $1.75 billion valuation in its 2023 funding round.
Regulatory approvals in the EU and Dubai arrived last year, supporting BitGo’s global operations. “Since securing VARA licenses for custody and broker-dealer services, we’ve seen increased engagement from regulated exchanges, funds, banks, institutional participants, crypto natives, and fintech platforms in the region,” said Nick Coombs.
Coombs added that listing in the U.S. would boost long-term institutional participation. “BitGo’s decision to pursue a U.S. listing reflects a broader trend among internationally focused firms seeking long-term capital access and credibility with global institutions.”
The IPO comes amid debate in Washington over a proposed U.S. crypto market structure bill, with a Senate Banking Committee vote postponed and exchange support shifting. (Ed. note: stablecoin yield policy remains a central dispute.) Data shows the Senate Agricultural Committee plans a markup next Tuesday.
