BitGo Inc. (NYSE: BTGO) has successfully completed its U.S. IPO, raising over $212 million with shares priced at $18, resulting in a valuation of approximately $2.08 billion. The company forecasts revenue to reach $400 million by 2028, positioning itself as a significant player in the crypto custody market. The IPO was led by underwriters Goldman Sachs and Citigroup. This marks the first IPO for a crypto custody firm in 2026, reflecting potential industry growth driven by institutional adoption and regulatory changes. BitGo's market performance is expected to be influenced by Bitcoin's price, with projections suggesting a stock price of $26.50 if Bitcoin surpasses $120,000. The company is also focusing on stablecoin custody and institutional services to sustain growth. BitGo's future prospects are closely tied to regulatory developments, including SEC rule-making and the CLARITY Act. The company is noted for its secure custody solutions, having reported zero hacking losses, and anticipates a 26% annual revenue growth through 2028, driven by increased tokenization and deregulation.
BitGo Completes IPO, Projects $400M Revenue by 2028
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