BitGo aims to raise over $200 million in U.S. IPO

Investing.com -- Crypto custody startup BitGo launched its initial public offering Monday, seeking to raise up to $201 million.

The Palo Alto, California-based company and some of its existing shareholders are offering 11.8 million shares priced between $15 and $17 each.

Founded in 2013, BitGo has established itself as one of the largest crypto custody firms in the United States. The company specializes in storing and protecting digital assets for clients, a service that has become increasingly important as institutional interest in cryptocurrency continues to grow.

Goldman Sachs is serving as the lead book-running manager for the proposed offering, with Citigroup acting as book-running manager. Additional book-running managers include Deutsche Bank Securities, Mizuho, Wells Fargo Securities, Keefe, Bruyette & Woods, Canaccord Genuity, and Cantor.

Clear Street, Compass Point, Craig-Hallum, Rosenblatt, Wedbush Securities, and SoFi are acting as co-managers for the offering.

BitGo plans to list its shares on the New York Stock Exchange under the ticker symbol "BTGO".

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