BitGo Shares Surge 25% After $213M IPO, Marking Crypto Milestone

Table of Contents

TLDR

BitGo raised $213 million through its initial public offering, pricing shares at $18 each.
The company’s shares surged by 25% on the first day of trading, reaching $22.43 per share.
BitGo’s IPO was the first major cryptocurrency listing of 2026, setting a new milestone for the industry.
CEO Mike Belshe emphasized that the IPO would accelerate the transition to a transparent digital asset economy.
Despite a bearish crypto market, BitGo’s IPO showed strong investor confidence and positive market reception.

BitGo, the digital asset custodial services provider, successfully debuted on the New York Stock Exchange on Thursday. The company raised $212.8 million through its initial public offering (IPO), with shares priced at $18 each. This was slightly above the forecasted range of $15 to $17 per share. Following its public offering, BitGo’s shares saw a strong performance, surging 25% to $22.43. This marks the first major cryptocurrency company IPO of 2026.

BitGo’s IPO Raises $213 Million, Valuation at $2.08 Billion

BitGo’s IPO saw the company raising $212.8 million at a valuation of $2.08 billion. The offering priced at $18 per share, slightly exceeding the initial forecast. The shares then surged in early trading, reflecting investor optimism. BitGo‘s entry into the public markets signals a renewed interest in crypto companies despite market challenges. The company’s debut comes amid a broader trend of crypto firms seeking public listings.

CEO Mike Belshe emphasized the significance of the IPO. He stated, “Our entry into the public markets will enable us to further accelerate the financial system’s transition toward a transparent and credible digital asset economy.”

The success of the IPO positions BitGo to continue its expansion in the digital asset space. It also opens the door for other companies, such as Kraken, which are considering their own IPOs.

BitGo Shares Surge 25% After Strong IPO Performance

Shares of BitGo surged by over 25% after the company’s initial public offering. The stock opened at $22.43 per share, a 25% increase from the offering price of $18. This strong performance indicates that investor confidence remains high in the digital asset sector, despite a challenging crypto market. BitGo’s shares traded higher, reaching a valuation of $2.59 billion by the close of trading.

Lukas Muehlbauer, an IPOX research associate, highlighted the timing of BitGo’s IPO. “BitGo’s IPO is the first major bellwether of the market’s appetite for crypto listings in 2026,” he said.

While the market faces some headwinds, especially after a downturn in Bitcoin’s value, BitGo’s strong IPO performance shows resilience.

BitGo now stands as the first crypto company to go public in 2026, opening the path for others to follow. The company joins the ranks of other crypto firms like eToro, Circle, and Gemini. These companies have looked to public markets for growth despite the crypto market’s volatility.