BitGo Holdings (BTGO) – the first crypto IPO of the year – priced its deal at $18.00 – $1.00 above the top of its range – and sold 11.82 million shares – the number of shares in the prospectus – to raise $212.76 million on Wednesday night, Jan. 21, 2026.
Bitgo’s stock jumped today – opening at $22.43, up $4.43 for a 24.67 percent gain from its IPO price- in its debut at midday on the New York Stock Exchange on Thursday, Jan. 22, 2026. Shortly before 1 p.m. EST today, BitGo’s stock was at $24.20 – up $6.20 from its IPO price on volume of about 7.54 million shares. After touching its session high around 1 p.m. EST, BitGo’s stock gave up ground this afternoon to close at $18.49 – up 49 cents for a 2.72 percent gain in its first day of NYSE trading on volume of about 16.56 million shares.
At pricing, BitGo had a market cap of $2.1 billion.
Goldman Sachs and Citigroup led the joint book-running team.
Another six investment banks made up the joint book-running slate: Deutsche Bank Securities, Mizuho Securities, Wells Fargo Securities, Keefe, Bruyette & Woods (A Stifel Company), Canaccord Genuity and Cantor.
After the IPO, co-founder and CEO Michael Belshe will control about 56 percent of the voting power of BitGo’s outstanding capital stock, the prospectus said.
Of the 11.82 million shares in the IPO, BitGo sold about 11.03 million shares and selling shareholders sold 795,230 shares, the prospectus said.
The IPO’s principal purposes included “to obtain additional capital,” BitGo said in the prospectus.
BitGo Holdings (BTGO), based in Sioux Falls, South Dakota, is the leading crypto infrastructure platform. The company offers services ranging from custody and wallet to staking, trading and settlement to institutional clients and high net worth (HNW) individuals. The company was incorporated in 2011 under a different name.
BitGo is profitable. For the 12 months that ended Sept. 30, 2025, BitGo had net income of $164.65 million on revenue of $11.14 billion, according to financial statements in the prospectus. At Sept. 30, 2025, BitGo had about $104 billion in Assets on Platform, the prospectus said.
Preliminary estimated results (unaudited) for the year ended Dec. 31, 2025, projected about $3.4 million in profit from operations on total revenue of about $16 billion – with about $81.6 billion in Assets on Platform, according to the prospectus.
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