BitGo IPO Prices Above Range, Raises $212.8M in Historic Debut

Crypto custody startup BitGo priced its U.S. initial public offering (IPO) above its indicated range on Wednesday. The Palo Alto-based company raised $212.8 million, marking the first stock market debut by a digital asset firm in 2026.

According to Reuters, crypto custody startup BitGo Holdings priced its IPO at $18 per share, above the marketed range of $15 to $17. The company sold 11.8 million shares to raise $212.8 million, giving it a valuation of approximately $2.08 billion and making it the first digital…

— Wu Blockchain (@WuBlockchain) January 22, 2026

BitGo sold 11.8 million shares at $18 each, exceeding the marketed range of $15 to $17 per share. The IPO values the crypto custodian at $2.08 billion, surpassing its earlier target of $1.96 billion.

The company will begin trading on Thursday following its successful pricing. BitGo becomes the first dedicated crypto custodian to complete a U.S. stock exchange listing.

The offering attracted strong investor demand despite recent turbulence in cryptocurrency markets. BitGo’s custody business now manages assets exceeding $100 billion for institutional clients worldwide.

BitGo’s Long Road to Public Markets

BitGo’s journey to the public markets began in July 2025. The company submitted a draft registration statement on Form S-1 to the Securities and Exchange Commission on July 21.

The filing marked a significant milestone for the crypto industry’s push toward mainstream financial acceptance. BitGo provides custody and security services for institutional cryptocurrency holdings across global markets.

On January 12, 2026, BitGo announced its IPO plans targeting an initial valuation of up to $1.96 billion. The company aimed to raise as much as $201 million through the offering at that time.

BitGo is seeking to raise up to $201 million in a U.S. IPO. It plans to offer 11.8 million shares at a price range of $15–$17, with both the company and existing shareholders participating. BitGo intends to list on the NYSE under the ticker BTGO, with Goldman Sachs and Citigroup…

— Wu Blockchain (@WuBlockchain) January 12, 2026

The final pricing exceeded those initial expectations. Strong institutional interest pushed the share price above the marketed range, delivering a larger valuation than anticipated.

BitGo has positioned itself as critical infrastructure for the maturing digital asset ecosystem. The company serves institutional clients requiring secure storage solutions for cryptocurrency holdings.

The IPO arrives at a complex moment for the U.S. crypto industry. Lawmakers are advancing a long-awaited market structure bill that would redraw lines between securities and commodities oversight.

Major players including Coinbase have warned the legislation could restrict core parts of their business. The regulatory debate continues to create uncertainty across the digital asset sector.

A sharp selloff in cryptocurrencies in October unsettled the broader sector. The market turbulence raised the threshold for investor backing and complicated efforts by companies seeking public listings.

More Crypto IPOs on the Horizon

Meanwhile, the U.S. IPO market regained momentum in 2025 after nearly three years of sluggish activity. Tariff-driven volatility and a prolonged government shutdown tempered expectations for a stronger rebound.

Renewed regulatory clarity has boosted confidence among some digital asset firms considering public offerings. The sector has watched BitGo’s debut closely as a test of investor appetite.

BitGo’s successful pricing may open doors for other crypto companies eyeing public markets. The offering serves as a litmus test for institutional investor appetite in the digital asset space.

Crypto-focused asset manager Grayscale has signaled plans to test investor appetite through an IPO this year. Cryptocurrency exchange Kraken has also reportedly explored a public listing.

BitGo’s valuation and share price will face ongoing scrutiny from institutional investors after trading begins. The company’s performance could influence timing decisions for other crypto firms.

The digital asset industry continues facing headwinds from market volatility and regulatory uncertainty. BitGo’s debut nonetheless represents a landmark moment for crypto infrastructure providers seeking mainstream financial validation.

Following this, market participants will monitor BitGo’s trading performance on Thursday. The stock’s reception could shape the trajectory of crypto-related IPOs throughout 2026.