BitGo Holdings recently announced the pricing of its initial public offering (IPO) of an aggregate of 11,821,595 shares of Class A common stock at a price to the public of $18 per share, raising $212.8 million in the first crypto IPO of 2026.
The offering consists of 11,026,365 shares of Class A common stock being offered by BitGo and 795,230 shares of Class A common stock being offered by certain existing stockholders of the company
The IPO values BitGo at $2.08 billion.
Shares to trade on the New York Stock Exchange
The shares began trading on the New York Stock Exchange on January 22, 2026, under the ticker symbol “BTGO,” and the offering is expected to close on January 23, 2026, subject to customary closing conditions.
The BitGo IPO follows a challenging period for publicly traded crypto companies amid volatile digital asset prices. Many crypto-focused firms that debuted in 2025 have significantly underperformed over the past six months.
It also arrives at a tense time for the U.S. crypto sector, with lawmakers advancing a long-awaited market structure bill that would redefine the boundaries between securities and commodities regulation, even as major firms like Coinbase caution that it could constrain key parts of the business.
“We see significant upside for BitGo from tokenization (tokenized “real world assets” are +270% y/y) and the institutionalization of digital assets, supported by continual innovation thanks to deregulation, including new SEC rule-making and the possible passage of the CLARITY Act,” said Matthew Sigel, head of digital assets research at VanEck.
The digital asset sector gained momentum thanks to President Donald Trump’s pro-crypto stance and his administration’s backing of regulatory measures such as the stablecoin-focused GENIUS Act, helping Bitcoin, the world’s largest cryptocurrency, reach record highs in the first half of 2025.
Read: Crypto lending hits $74 billion as Bitcoin’s market cap eyes $2.5 trillion milestone
BitGo to generate $400 million revenue by 2028
Sigel added that BitGo has demonstrated strong operating momentum. As of September 2025, digital assets custodied grew 96 percent year-on-year to $104 billion and trailing 9-month net revenues of $140 million, with a $240 million run-rate possible by the end of this year.
“In our base case, we expect BitGo to sustain a less dramatic, but still steep trajectory and grow revenues (+26%) through 2028. This places the company on track to generate >$400M in revenue and >$120M in EBITDA by 2028,” he added.
Goldman Sachs acted as the lead book-running manager for the BitGo IPO, while Citigroup was the book-running manager.
