BitGo Prices US IPO at $18, Raising $212.8M Amid Crypto Volatility
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: seekingalpha
- Oversubscribed Offering: BitGo priced its US IPO at $18 per share, exceeding the initial range of $15-$17, successfully raising $212.8 million, indicating strong market confidence in its business model.
- Valuation Surge: The offering values BitGo at $2.08 billion on a fully diluted basis, reflecting investor optimism regarding its long-term growth potential in the crypto custody sector.
- Significant Financial Improvement: For the first nine months of 2025, BitGo reported a net income of $8.1 million on revenues of $10 billion, compared to last year's net income of $5.1 million on revenues of $1.9 billion, showcasing rapid business growth and enhanced profitability.
- Market Context: Although the IPO occurs amid crypto market volatility, it benefits from President Trump's pro-crypto policies and rising institutional interest, suggesting a positive outlook for BitGo's future development.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
