BitGo
BitGo raises $212.8 million in first crypto IPO of 2026
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Crypto custody firm BitGo has raised $212.8 million in its initial public offering, marking the first such debut by a digital asset company this year. The company priced shares at $18 each, above its initial range, and saw its stock rise on the New York Stock Exchange. This IPO arrives amid challenges in the crypto sector, serving as a test for future listings.
Digital asset provider BitGo priced its US IPO above the expected range, raising $213 million at a $2.2 billion market cap. The company, which offers custody, lending, and infrastructure for institutional clients, saw shares open with a 25% gain before falling 19% below the offer price by week's end. This performance contrasts with a strong debut for equipment rental firm EquipmentShare.
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Crypto custodian BitGo's shares fell sharply by 13% on their second day of public trading. The company had debuted on the market at a valuation of around $2 billion on Thursday.