BitGo has debuted on the NYSE, raising $212.8 million and valued at $2 billion, with a strategic investment from Changpeng Zhao's YZi Lab.
BitGo, a prominent cryptocurrency custodian, officially began trading on the New York Stock Exchange (NYSE) on January 22, 2026, with the stock symbol BTGO.
In its initial public offering (IPO), BitGo issued nearly 11.8 million Class A shares. The company sold over 11 million shares directly, while existing shareholders contributed the remaining 795,000 shares. Goldman Sachs and Citigroup served as the leading underwriters for this offering.
The IPO led to a capital raise of approximately $212.8 million, establishing BitGo’s valuation at around $2 billion. The offering price initially opened at $18, and despite a significant surge to an intraday peak of $24.50 after launch, the stock closed the day at $18.49, marking a slight increase of 2.7% by the session's end.
Alongside its stock market debut, BitGo announced a partnership with YZi Lab, an investment firm linked to Changpeng Zhao, the former CEO of Binance. The details regarding the specific investment amount remain undisclosed. YZi Lab expressed optimism about the role of regulated crypto infrastructure in facilitating the influx of institutional capital into digital assets.
“BitGo's impeccable security record, maintained for over a decade without any breaches, showcases the strong technical foundation laid by its founder, Mike Belshe,” stated YZi Labs head Ella Zhang.
Belshe emphasized that the partnership extends beyond financial investment, signifying a mutual vision for the future of the crypto industry.
Upcoming IPOs in Crypto Space
Meanwhile, Ledger is reportedly preparing to file for an IPO on the NYSE, potentially valuing the company at $4 billion. They are in discussions with investment banks including Goldman Sachs, Jefferies, and Barclays, with plans for a potential launch by late 2026.
The cryptocurrency sector has seen heightened investor interest following Donald Trump's return to the presidency in 2024, as the new administration actively supports digital asset development as a strategic priority.
In 2025, exchanges Gemini and Bullish, along with issuer Circle, made their public market entries, while Kraken is contemplating an IPO early in 2026. Notably, Ripple President Monica Long recently dismissed any imminent IPO plans for the fintech firm.
