Digital asset infrastructure company BitGo’s stock jumped on its first day of trading in New York, giving the crypto custody firm a market value of about $2.59 billion. Shares of BitGo opened at $22.43 on the New York Stock Exchange, jumping 24.6% above the $18 IPO price.
The crypto custody firm raised $212.8 million in the offering. BitGo sold just over 11 million new shares, while early backers sold about 795,000 shares. The final price came in above the expected $15 to $17 range, signalling solid demand despite recent volatility in crypto markets.
“BitGo’s IPO is the first major bellwether of the market’s appetite for crypto listings in 2026. While Gemini listed near the peak of the crypto market last year, BitGo is going public into the headwinds of the recent selloff,” says IPOX research associate Lukas Muehlbauer.
Other crypto firms are watching closely. Asset manager Grayscale and exchange Kraken are among the names often mentioned as possible IPO candidates if market conditions remain supportive.
The debut happens at a sensitive time for the crypto sector. US lawmakers are still discussing a bill to clarify which regulators oversee the industry. Some companies, like Coinbase, are concerned that the bill could impose stricter rules at a time when the market is trying to recover from last year’s downturn.
Volatility remains, as Bitcoin dropped below $90,000 on Thursday, and investors are unsure whether the crypto industry has fully moved past its difficulties.
Provider of digital asset solutions
BitGo is the infrastructure provider of digital asset solutions, delivering custody, wallets, staking, trading, financing, and settlement services from regulated cold storage.
Since its founding in 2013, the company has focused on enabling its clients to navigate the digital asset space securely.
With a large global presence through multiple regulated entities, BitGo serves thousands of institutions, including many of the industry’s top brands, exchanges, and platforms, as well as millions of retail investors worldwide.
