Bitgo will launch an initial public offer
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The good performance of Circle and Coinbase infects other companies in the industry.
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Now, Bitgo’s application enters into the process of review by the Securities Regulator.
Bitgo Holdings, Inc., a company specialized in Bitcoin custody services (BTC) and other digital assets, submitted an application before the United States Stock Exchange and Securities Commission (SEC) to start quoting in the Stock Exchange.
This is a statement of registration for the launch of an initial public offer (IPO) of its class A.
The exit to the stock market will be specified once the regulator review process ends, also depending on market conditions. Therefore, The number of actions to be issued and the price range has not yet been determined.
An initial public offer is the process through which a private company begins to quote on the stock market, allowing its shares to be acquired by investors in the public market.
This step can represent a significant change for the company, when opening new financing routes, increasing its visibility and subjecting it to higher regulatory demands. For the market, a new IPO implies the diversification of investment options and can reflect the growth of a specific sector.
Bitgo’s decision is produced in the midst of a growing tendency of companies in the cryptocurrency ecosystem that seek to enter the US stock market. This movement has been promoted by the solid performance of other companies in the sector They already quote in the stock market.
Such is the case of Circle, an station of the USDC stablecoin, whose shares reached a historical maximum of $ 298 on June 23, with a accumulated increase of 237% From his bag debut at the beginning of that month, as seen in the following tradingview graph:
Another reference is Coinbase, the second largest cryptocurrency exchange in the world, which has reached on July 17 a new historical maximum of $ 443 per share, as can be seen in this graph:
Since January of this year, its titles have grown by 67.4%, reflecting the renewed interest of investors in the cryptocurrency sector. This has promoted the stock market capitalization above 100,000 million dollars, an unprecedented figure from its IPO in April 2021, as reported cryptootics.
Bitgo’s application, submitted confidentially under Form S-1, does not yet constitute an offer of sharing. The company clarifies that any placement process It will be carried out in accordance with the requirements established in the 1933 Securities Law and its amendments. The presentation is made in accordance with rule 135 of said law, which allows to announce the intention of an offer without incurring improper promotion of the titles.
