Crypto Firm BitGo Raises $212.8 Million in U.S. IPO


NEW YORK — Digital asset infrastructure firm BitGo raised $212.8 million after pricing its U.S. initial public offering (IPO) at $18 per share, valuing the company at just over $2 billion and marking the first crypto-related IPO of 2026 on a major U.S. exchange.



The Palo Alto–based company sold 11.8 million shares in the offering, which was priced above its marketed range of $15 to $17. BitGo’s shares are expected to begin trading on the New York Stock Exchange under the ticker BTGO, with the offering scheduled to close on January 23, subject to customary conditions.



The IPO follows the U.S. Securities and Exchange Commission’s decision to declare BitGo’s registration statement effective on January 21. Goldman Sachs & Co. LLC and Citigroup acted as lead underwriters, while Clear Street and Compass Point served as co-managers, according to people familiar with the matter.



Founded in 2013, BitGo provides digital asset custody, wallets, staking, trading, financing, and settlement services to institutional clients, including hedge funds, asset managers, and crypto-native firms. The company has positioned itself as a provider of infrastructure rather than a trading venue, seeking to reduce exposure to the volatility that has challenged crypto exchanges in recent years.



At the IPO price, BitGo and selling shareholders raised $212.8 million in gross proceeds, though the company itself will not receive funds from shares sold by existing investors. Proceeds allocated to BitGo are expected to support growth in custody services, regulatory compliance, and international expansion, as institutional demand for digital asset safeguarding continues to rise.


The successful pricing suggests renewed — albeit selective — investor appetite for crypto-related listings, following a subdued period for digital asset IPOs amid tighter regulation and market volatility. Analysts note that firms focused on infrastructure and compliance have fared better with public market investors than those tied directly to speculative trading activity.


BitGo’s debut comes as U.S. markets see early signs of a reopening of the IPO window, with investors showing greater tolerance for risk in companies with recurring revenue and institutional clients.


FAQs

How much did BitGo raise in its IPO?
BitGo raised $212.8 million by selling 11.8 million shares at $18 per share.

What is BitGo’s valuation after the IPO?
The offering values the company at just over $2 billion.

What does BitGo do?
BitGo provides digital asset custody, wallets, staking, trading, financing, and settlement services for institutional clients.

Where will BitGo shares trade?
BitGo is set to trade on the New York Stock Exchange under the ticker BTGO.

Why is this IPO significant?
It is the first crypto-related IPO of 2026 on a major U.S. exchange, signaling cautious investor interest in digital asset infrastructure firms.


Sources


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#BitGo #IPO #CryptoIPO #DigitalAssets #Blockchain #NYSE #CryptoCustody #FinTech #Markets #Investing

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