Crypto custody firm BitGo priced its US$ initial public offering above its expected range on 21 January, raising US$212.8 million and marking the first stock market debut by a digital asset company in 2026.
The Palo Alto, California-based firm sold 11.8 million shares at US$18 each, above the marketed range of US$15 to US$17, giving BitGo a valuation of US$2.08 billion, according to Reuters.
The IPO comes amid uncertainty in the US crypto industry, as lawmakers advance a market structure bill that could redefine securities and commodities oversight, while major players such as Coinbase have warned it may constrain core business activities.
A sharp sell-off in cryptocurrencies in October has hit the sector, complicating efforts to attract investor backing.
Other crypto-focused firms, including asset manager Grayscale and reportedly cryptocurrency exchange Kraken, are reportedly planning IPOs this year, with BitGo’s listing seen as a test of market appetite.
Founded in 2013, BitGo is among the largest crypto custody providers in the US, offering secure storage of digital assets at a time when institutional interest in cryptocurrencies is increasing.
Featured image credit: Edited by Fintech News Switzerland, based on image by thanyakij-12 via Freepik
