Quick take:
- The IPO priced BitGo at a value of $2.08 billion, with the valuation rising to $2.59 billion after the price rose to $22.43 per share.
- BitGo becomes the first crypto IPO of the year after a relatively slower period towards the end of last year.
- It follows in the footsteps of the likes of eToro, Circle Internet Group, and Gemini, among leading crypto companies looking to tap into public markets amid the Trump-led crypto-friendly regulatory approach.
BitGo, the digital asset custodial services provider, went public on Thursday, pricing its initial public offering at $18 per share, slightly above its forecasted range of $15-$17. BitGo raisd $212.8 million from the IPO at a valuation of $2.08 billion.
Shares of the digital asset infrastructure and financial services provider popped 25% to trade at about $22.43 on Thursday, valuing the stock at $2.59 billion.
BitGo is now the first crypto company to go public in 2026, and opens the doors overall for several other IPOs planned marketwide, including from the likes of Kraken.
It follows in the footsteps of the likes of eToro, Circle Internet Group, and Gemini, among leading crypto companies looking to tap into public markets amid the Trump-led crypto-friendly regulatory approach.
It also comes amid a bearish crypto market sentiment, with the Bitcoin price shedding a significant fraction of its value from its all-time highs set in October.
Commenting on the timing of BitGo’s IPO, IPOX research associate Lukas Muehlbauer said: “BitGo’s IPO is the first major bellwether of the market’s appetite for crypto listings in 2026. While Gemini listed near the peak of the crypto market last year, BitGo is going public into the headwinds of the recent selloff.”
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