Core Viewpoint - BitGo has set its share price for its initial public offering (IPO) at $18, raising $212.8 million and valuing the company at over $2.1 billion [1][2]. Company Overview - BitGo, founded in 2013, operates as a digital asset infrastructure provider, offering services such as custody, wallets, staking, trading, financing, stablecoins, and settlement [5]. - The IPO marks the first major crypto-related listing of 2026, with other companies like Kraken and Grayscale expected to follow [5]. IPO Details - The company will sell a total of 11,821,595 shares of Class A common stock, which includes 11,026,365 shares offered by BitGo and 795,230 shares from existing stockholders [2]. - BitGo will not receive any proceeds from the sale of shares by selling stockholders [2]. - The shares are expected to begin trading on the New York Stock Exchange under the ticker BTGO [1][3]. Underwriters - Goldman Sachs is the lead book-running manager for the offering, with Citigroup also serving in this capacity [4]. - Other book-running managers include Deutsche Bank Securities, Mizuho, Wells Fargo Securities, Keefe, Bruyette & Woods, Stifel, Canaccord Genuity, and Cantor [4]. - Co-managers for the offering include Clear Street, Compass Point, Craig-Hallum, Rosenblatt, Wedbush Securities, and SoFi [4].

Group 1 - TimesSquare Capital Management's "U.S. Focus Growth Strategy" reported a 4.00% gross return and a 3.78% net return in Q3 2025, outperforming the Russell Midcap Growth Index's 2.78% return [1] - All major asset classes posted positive returns in Q3 2025, except for fixed income assets outside the US [1] Group 2 - Interactive Brokers Group, Inc. (NASDAQ:IBKR) had a one-month return of 1.17% and a 52-week gain of 42.40%, closing at $64.15 per share with a market capitalization of $109.051 billion on December 12, 2025 [2] - TimesSquare Capital highlighted Interactive Brokers as a preferred investment in the Financials sector, focusing on low-cost execution and clearing services for retail and institutional customers [3] Group 3 - In Q3 2025, Interactive Brokers' commission revenue increased by 23% year-over-year to $537 million, although it is not among the 30 most popular stocks among hedge funds [4] - The number of hedge fund portfolios holding Interactive Brokers decreased from 71 to 68 in the third quarter [4]