On January 22, cryptocurrency custodian BitGo made its debut on the New York Stock Exchange (NYSE) under the ticker BTGO.
It's official! pic.twitter.com/RLKYqyNRfV
— BitGo (@BitGo) January 22, 2026
During its IPO, the company issued 11,821,595 Class A shares. Of this total, over 11 million shares were sold by BitGo itself, while the remaining 795,000 were sold by existing shareholders. Goldman Sachs and Citigroup acted as lead underwriters.
BitGo also granted underwriters a 30-day option to purchase an additional 1.77 million shares.
The opening price was set at $18. After trading commenced, the stock quickly surged by 36%, reaching an intraday high of $24.50.
However, it couldn't maintain those gains, and prices gradually declined until the end of the session. The trading day closed at $18.49, reflecting a modest daily increase of just 2.7% from the offering price.
Source: Yahoo Finance.Through this offering, BitGo raised approximately $212.8 million, valuing the company at $2 billion.
The company filed for its IPO with the SEC in September, reporting that it held assets worth around $90.3 billion.
BitGo's client base includes about 4,600 organizations and high-net-worth individuals, along with over 1.1 million end users.
Support
Alongside its market debut, BitGo entered into a deal with investment firm YZi Lab, affiliated with former Binance CEO Changpeng Zhao. The amount of investment from this new strategic partner remains undisclosed.
— YZi Labs (@yzilabs) January 23, 2026
Representatives from YZi Labs expressed confidence that regulated crypto infrastructure in the U.S. will play a "key role" as institutional capital increasingly flows into digital assets.
“BitGo's impeccable security reputation, maintained for over a decade without a single breach, is direct evidence of the solid technical foundation established by its founder and CEO Mike Belshe,” noted YZi Labs head Ella Zhang.
Belshe described the fund's support as "more than just money," stating that the strategic investments reflect a shared belief in the industry's future.
Ledger's IPO Plans
According to Financial Times, Ledger is planning an IPO on the NYSE, which could value the company at $4 billion.
Insiders reported that the firm is working on a deal with Goldman Sachs, Jefferies, and Barclays. The initial public offering could take place by the end of 2026.
Investor interest in the sector has notably increased following Donald Trump's return to the presidency in 2024. The new administration has taken a proactive stance, supporting the digital asset industry and prioritizing cryptocurrency development as a national strategic goal.
In 2025, exchanges Gemini and Bullish, as well as the issuer Circle, went public. The Kraken exchange is considering an IPO in the first quarter of 2026.
It is worth noting that in November, Ripple President Monica Long denied any plans for an IPO for the fintech company.