Crypto custody firm BitGo Holdings has officially opened the public markets’ door for digital asset companies in 2026.
According to Reuters, the company priced its initial public offering at $18 per share, exceeding the marketed range of $15 to $17. The IPO raised $212.8 million through the sale of 11.8 million shares, valuing BitGo at approximately $2.08 billion and making it the first digital asset company to go public in 2026.
The listing marks a milestone moment for crypto infrastructure. BitGo will trade on the New York Stock Exchange under the ticker BTGO, signaling growing confidence from Wall Street in firms that sit behind the scenes of the digital asset economy rather than in speculative tokens themselves. With Goldman Sachs and Citigroup leading the deal, the IPO reflects a calculated institutional bet acknowledging that custody, compliance, and security have become foundational to crypto’s next growth phase.
From Startup To Institutional Backbone
Founded in 2013 BitGo emerged during a period when crypto security failures were common and institutional participation was nearly nonexistent. Over the last decade, the company steadily positioned itself as one of the most trusted U.S.-based crypto asset custodians, providing regulated custody, settlement, and infrastructure services to exchanges, funds, and issuers.
Today, BitGo safeguards more than $90 billion in digital assets, a figure that underscores its growing relevance in institutional crypto markets. Notably, more than $60 billion of that growth occurred in 2025 alone, reflecting a sharp acceleration in demand as regulated products such as spot Bitcoin ETFs gained traction. BitGo currently provides custody services for several of these ETFs, including ARK 21Shares’ ARKB, placing it at the core of the crypto-to-TradFi bridge.
This steady rise did not come from hype cycles. BitGo built its reputation on compliance-first operations, deep security tooling, and long-term relationships with regulated financial institutions, attributes that increasingly matter as crypto integrates with traditional capital markets.
IPO Pricing Signals Strong Investor Demand
BitGo’s decision to price its IPO above the marketed range sends a clear signal about investor appetite. By setting the offering at $18 per share, the company exceeded initial expectations and pushed total proceeds well beyond the projected ~$189 million target. The result is a stronger balance sheet and a public valuation that reflects confidence in BitGo’s revenue profile and long-term growth prospects.
In 2024, BitGo reported $4.2 billion in revenue, nearly quadrupling year-over-year. That growth trajectory, combined with its expanding asset base, positioned the firm as one of the most financially mature crypto-native companies to approach public markets. Goldman Sachs, which both backs BitGo and led the IPO, played a central role in structuring the offering, an endorsement that carries weight across institutional investor circles.
The move reinforces a broader narrative: crypto companies with clear revenue models, regulatory alignment, and enterprise customers are now viable public-market candidates, even as token prices remain volatile.
Wall Street Backs Crypto Infrastructure
Unlike earlier crypto market cycles dominated by exchanges and token issuers, BitGo’s IPO highlights a shift toward infrastructure-first adoption. Custody firms operate quietly, but they underpin every institutional crypto interaction, from ETFs and asset managers to tokenized securities and settlement platforms.
Goldman Sachs and Citigroup’s involvement underscores Wall Street’s growing conviction that crypto infrastructure is not optional, it is inevitable. As traditional finance continues to tokenize assets and explore blockchain-based settlement, regulated custodians like BitGo become essential service providers rather than speculative bets.
This dynamic explains why analysts are already pointing to Grayscale and Kraken as potential next IPO candidates. The market is rewarding companies that provide rails, safeguards, and compliance layers, not just liquidity or trading access. BitGo’s successful pricing strengthens the case for additional crypto firms to follow, particularly those operating in custody, clearing, and infrastructure verticals.
A Defining Moment For Crypto Public Listings
BitGo’s listing is significant not only because it is the first crypto IPO of 2026, but because of what it represents for regulatory perception. The company previously navigated extensive compliance requirements, built trust with U.S. regulators, and aligned its business model with institutional expectations. That groundwork now pays off in the form of public-market legitimacy.
The IPO also arrives at a time when crypto markets are stabilizing around fewer, larger, and more compliant players. Custodians, stablecoin issuers, and infrastructure providers are consolidating their role as the connective tissue between decentralized networks and traditional finance. BitGo’s valuation reflects that reality.
NEWS: @BitGo, one of the largest crypto custody firms, raises $212.8M in a U.S. IPO priced above range, valuing the company at $2.08B and making it the first digital asset company to go public in 2026.
It will list on the New York Stock Exchange (NYSE) under the ticker BTGO. pic.twitter.com/Pg2iMI6Hqe
— SolanaFloor (@SolanaFloor) January 22, 2026
Infrastructure Takes Center Stage
As BitGo begins trading on the NYSE, its IPO sets a benchmark for what successful crypto companies look like in the public eye. The firm does not issue a token, operate a consumer trading app, or chase retail narratives. Instead, it focuses on custody, security, and scale, the unglamorous but essential layers of the crypto economy.
That distinction matters. It signals a maturation of the sector, where value accrues to companies that enable markets rather than merely participate in them. With $90 billion in assets under custody, multi-billion-dollar revenue, and backing from top-tier financial institutions, BitGo enters public markets as proof that crypto infrastructure has crossed a credibility threshold.
The debut of BTGO on the NYSE is not just a listing, it is a statement. Crypto’s next phase will be built on rails, not noise. And in 2026, BitGo is the first company to carry that message directly onto Wall Street.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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