Core Viewpoint - The IPO market in 2025 experienced several successful public offerings, particularly in the AI, cryptocurrency, and fintech sectors, raising questions about the market's trajectory in 2026 [1] Group 1: IPO Market Performance - 2025 saw a notable increase in public offerings from companies in the AI, cryptocurrency, and fintech industries [1] - There is uncertainty regarding whether the IPO market will continue to thrive in 2026 or if investors will adopt a more cautious stance [1] Group 2: Economic Factors - Concerns about inflationary pressures and the potential for a weakening economy may influence investor behavior towards newly public companies [1] - The possibility of an AI bubble is also a significant factor weighing on investor sentiment [1]

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. Most Read from Fast Company The first real test of investor IPO ap ...

Core Insights - BitGo is planning to go public with a valuation target of up to $1.96 billion in its U.S. IPO, aiming to raise $201 million by offering 11.8 million shares priced between $15 and $17 each [2] Industry Trends - The IPO market is expected to maintain momentum into 2026, following a recovery despite challenges such as tariffs and a government shutdown [3] - High-profile IPOs in the previous year included digital asset companies like Circle and Bullish, prompting more crypto firms to pursue public offerings this year [3][4] Market Sentiment - The entry of Circle into the public market signifies a cultural and economic shift, indicating that traditional finance is becoming more receptive to digital assets [4][5] - Recent pressures on AI and tech valuations have led to a "flight to quality," favoring regulated companies over speculative crypto ventures, positioning BitGo as a more defensive option within the sector [5] Future Outlook - BitGo aims to leverage the anticipated market momentum in early 2026, where small and mid-cap index outperformance may create favorable conditions for mid-sized offerings [6] - New digital asset legislation being considered by the Senate could provide both opportunities and challenges for crypto companies, with a clear federal framework potentially unlocking significant institutional capital [6][7]

Crypto wallet and custody provider BitGo filed for its U.S. initial public offering on Monday, seeking to raise as much as $200 million in an offering that could value the firm as high as nearly $2 billion.  The Palo Alto, California-based firm intends to offer around 11.8 million shares of Class A common stock at $15-17 per share, according to the filing. Shares will trade under the BTGO ticker via the New York Stock Exchange. “Since our founding, BitGo has been nothing if not transparent. All of our role ...

Core Viewpoint - BitGo Holdings is targeting a valuation of up to $1.96 billion in what could be the first cryptocurrency initial public offering (IPO) of 2026, with share pricing set between $15 and $17 [1] Company Overview - BitGo is offering approximately 11.8 million shares, potentially raising up to $201 million at the upper end of the pricing range, with Goldman Sachs as the lead underwriter and Citigroup managing the offering [2] - The company estimates its revenue for the end of 2025 to be around $16.05 billion, a significant increase from $3.08 billion in 2024, primarily driven by digital asset trading [3] Financial Performance - BitGo's operations generated $2.6 million in income for the first nine months of 2025, with net income reaching $35.3 million after accounting for unrealized gains on digital asset holdings [3] Regulatory Developments - The IPO follows BitGo's receipt of conditional approval from the Office of the Comptroller of the Currency on December 12, 2025, allowing it to convert to a nationally chartered trust bank [4] - BitGo was one of five crypto firms to receive federal charter approvals on that day, with the CEO describing the approval as a landmark step for financial infrastructure [5] Market Position and Governance - Assets on BitGo's platform dropped 22% in Q4 2025 to $81.6 billion from $104 billion in Q3 2025, with approximately 80% of assets concentrated in five tokens, including Bitcoin at 42.8% [6] - BitGo will operate as a "controlled company" under NYSE rules, with CEO Michael Belshe holding about 55.5% of voting power through a dual-class share structure despite owning roughly 7.7% economic interest [6] Industry Context - Kraken filed confidentially for a US IPO in November 2025 after raising $800 million at a $20 billion valuation, targeting Q1 2026 for its offering [7] - BitGo intends to list on the New York Stock Exchange under the ticker symbol "BTGO" [7]

Core Viewpoint - BitGo Holdings Inc. plans to raise up to $201 million through an IPO, potentially becoming the first cryptocurrency company to go public in 2026, with an expected post-IPO valuation of approximately $1.96 billion [1][2]. Group 1: IPO Details - BitGo intends to issue 11.8 million shares at a price range of $15 to $17 per share, with 11 million shares being new stock and approximately 821,600 shares sold by existing shareholders [1]. - The IPO is expected to be priced on January 21, 2026, and will be listed on the New York Stock Exchange under the ticker symbol BTGO [3]. Group 2: Financial Performance - For the first nine months of 2025, BitGo reported a net profit of approximately $8.1 million and revenue of about $10 billion, compared to a net profit of $5.1 million and revenue of $1.9 billion in the same period the previous year [2]. - As of September 30, 2025, BitGo's platform had approximately $104 billion in assets under custody, supporting over 1,550 digital assets [2]. Group 3: Market Context - The IPO comes after a series of cryptocurrency companies went public in 2025, with notable IPOs including Gemini Space Station raising $446 million and Circle raising $1.2 billion [2]. - The overall cryptocurrency market has cooled, with Bitcoin prices down approximately 6.5% in 2025 [2]. Group 4: Ownership Structure - CEO Mike Belshe holds 2.6% of Class A common stock and all Class B stock, with his voting power expected to decrease to 56% post-IPO [3]. - Institutional shareholders include Valor Equity Partners and Redpoint Ventures, holding 4.6% and 3.9% voting power, respectively [3].

BitGo launched a roadshow for an initial public offering (IPO) on Monday, seeking a valuation of up to $1.96 billion. BitGo applied for a listing on the New York Stock Exchange with the ticker BTGO. Goldman Sachs and Citigroup serve as lead underwriters for the transaction. The Palo Alto-based organization plans to raise up to $201 million through the sale of 11.8 million shares. The offering prices the stock between $15 and $17 per share, with existing shareholders participating in the sale alongside th ...

Core Viewpoint - BitGo, a cryptocurrency custody company, has filed for an IPO in the U.S., aiming to raise approximately $201 million by offering 11.8 million shares priced between $15 and $17 each [1] Company Summary - BitGo was established in 2013 and is recognized as one of the largest cryptocurrency asset custody institutions in the United States [1] - The company plans to list on the New York Stock Exchange under the ticker symbol "BTGO" [1] - Goldman Sachs and Citigroup are acting as underwriters for the IPO [1]

Jan 12 (Reuters) - Crypto custody startup BitGo said on Monday it was targeting a valuation of up to $1.96 billion ​in its U.S. initial public offering, seeking to tap into ‌the investor appetite for crypto firms. The Palo Alto, California-based firm and some of its ‌existing shareholders are looking to raise as much as $201 million by offering 11.8 million shares priced between $15 and $17 each. The U.S. IPO market regained momentum in 2025, after nearly three years of sluggish activity, but ⁠expectati ...

Core Viewpoint - BitGo is aiming to raise up to $201 million in its U.S. initial public offering as stated in a regulatory filing [1] Company Summary - BitGo is a crypto custody startup that is preparing for an initial public offering [1]