BitGo has officially gone public, becoming the first major crypto-related company to launch an initial public offering (IPO) in 2026. The company, known for its digital asset custody and infrastructure services, is now trading on the New York Stock Exchange under the ticker symbol BTGO.

BitGo priced its IPO at $18 per share on January 21, 2026, which was higher than the expected range of $15 to $17. The next day, its shares began trading and saw an early surge of 25% to 36%, reaching highs close to $24.50 before closing the day slightly up at $18.49 — a 2.7% increase from the IPO price. This strong opening shows that investors are still interested in crypto infrastructure, even with recent volatility in the crypto market and Bitcoin’s price drop.

Founded in 2013, BitGo is a key player in the crypto space. It provides secure digital wallets, staking services, trading tools, and custody solutions. As of mid-2025, BitGo had over $90 billion in digital assets under management. The company mainly works with institutions, financial firms, and acts as a custodian for various spot crypto ETFs.

BitGo raised about $212.8 million through the sale of around 11.8 million shares, giving it a valuation of roughly $2.08 billion at the IPO price. Unlike crypto exchanges that rely on trading fees, BitGo earns more than 80% of its revenue from recurring services like custody and staking, making its income more stable.

The company’s business has grown significantly despite the broader market downturn. Assets under custody nearly doubled year-over-year to $104 billion by the end of 2025. Revenues rose by about 65%, and BitGo turned profitable with modest net income after years of losses. Analysts expect its revenue to surpass $400 million by 2028, with projected earnings (EBITDA) above $120 million.

BitGo’s federal trust license and clean security record — with no history of hacks — add to its credibility. Now that it’s a public company, it will face stricter financial reporting requirements, which could increase trust and attract more institutional clients.

As the first big crypto IPO of 2026, following earlier listings by Circle and Gemini in 2025, BitGo’s performance is seen as a signal for future listings in the sector. The positive market response shows that investors are more comfortable backing crypto infrastructure companies — those that provide essential services behind the scenes — rather than directly investing in cryptocurrencies themselves.

The IPO also reflects broader trends like tokenized real-world assets (RWAs) and growing stablecoin use, where secure custody is vital. Some platforms like Ondo Finance even created tokenized versions of BitGo’s stock shortly after its NYSE debut, showing how traditional finance (TradFi) and decentralized finance (DeFi) are starting to blend.

Experts believe 2026 could mark a boom year for IPOs across various industries including AI, space tech, and especially crypto infrastructure. BitGo’s solid start may encourage other crypto service providers to consider going public too.

This moment marks a shift in the crypto industry — moving away from hype-driven companies toward profitable businesses with steady revenue and strong foundations. BitGo’s success shows that serious investors are looking for reliable companies offering essential crypto services that support long-term adoption.

Despite market ups and downs, BitGo’s IPO highlights how crypto is becoming more mature and integrated into mainstream finance. It sets the stage for more institutional involvement and regulated growth in the digital asset world.