BITGO FILES FOR $2B IPO

Summary from the TLDR Crypto newsletter

Crypto custody provider BitGo filed for a US IPO seeking to raise up to $201 million at a $1.96 billion valuation, offering 11.8 million shares priced at $15-17 on the NYSE under ticker “BTGO” with Goldman Sachs and Citigroup as lead underwriters. The firm holds approximately $104 billion in assets under custody across 1,550+ digital assets for institutional clients. The IPO comes shortly after BitGo received conditional OCC approval in December to operate as a federally chartered national trust bank, representing one of the first major public offerings from a pure-play crypto custody provider.