What To Know:
- BitGo will debut on the New York Stock Exchange tonight under the ticker symbol BTGO, marking the first US crypto IPO of 2026.
- The company priced its IPO at $18 per share, valuing the crypto custodian at approximately $2.1 billion.
- Founded in 2013, BitGo oversees more than $100 billion in assets under custody and supports over 1,550 digital assets.
Crypto custody firm BitGo will enter public markets tonight, as it becomes the first crypto company to complete a US stock market listing in 2026.
The company’s shares are expected to begin trading on the New York Stock Exchange under the ticker symbol “BTGO,” which marks a milestone for the crypto infrastructure sector as institutional custody firms gain recognition alongside exchanges and stablecoin issuers.
BitGo To be Listed on NYSE Tonight
The company priced its initial public offering at $18 per share – above its market price range of $15 to $17 earlier this year. Based on the final price, a company as high as BitGo is roughly 2.1 billion dollars. The offerings involve about 11.8 million shares of Class A common stock and its total gross proceeds are thought to be some $212.8 million. Out of that total 795,230 shares are being sold by current shareholders and the remainder are newly issued by the company.
BitGo said it will not take any proceeds from the stock shares being sold by current investors. The firm has also granted underwriters a 30-day option to purchase up to an additional 1.77 million shares at the IPO price.
Goldman Sachs and Citigroup are acting as lead underwriters for the listing.
Founded in 2013, BitGo has grown into one of the largest digital asset custodians in the United States. Its platform provides secure storage, transaction processing, and compliance infrastructure for institutional investors, exchanges, and asset managers operating in crypto markets.
As of September 30, 2025, BitGo reported approx $104 billion in assets under custody. The platform currently supports more than 1,550 digital assets across multiple blockchains.
Financial disclosures included in the prospectus show rapid revenue growth during the past year. BitGo generated roughly $10 billion in revenue during the first nine months of 2025, a sharp increase from approximately $1.9 billion recorded during the same period a year earlier.
Net profit for that nine-month period reached about $35.3 million. Profit attributable to shareholders stood near $8.1 million, compared with $5.1 million during the corresponding period in 2024.
The company expects full-year revenue for 2025 to range between $16.02 billion and $16.09 billion.
The listing places BitGo among a small group of crypto-native firms to successfully reach US public markets. Even as firms like Coinbase and Circle operate consumer-facing services, BitGo’s business model centers on institutional custody, settlement, and regulatory compliance.
Its IPO is an indication of how asset storage is becoming a linchpin of the emerging digital asset economy, especially with the greater exposure to crypto that traditional financial players are using for exchange-traded funds, tokenized products, and structured investment vehicles.
SEC filings show that company ownership remains concentrated among founders, senior executives, and early investors.
Chief executive officer Michael Belshe disclosed ownership of one million Class A shares, most of which are restricted stock units that vest over time. He also holds several million Class B shares that may be converted into Class A stock, along with options that could significantly increase his holdings if exercised.
Additional filings show equity stakes held by chief revenue officer Fang Chen and board chairman Brian Brooks. Newly appointed directors, including Vivek Krishna Pattipati, reported no share ownership at the time of filing.
Institutional investors disclosed in the documents include Valor Equity Partners and Redstone.
BitGo has chosen to go public at a time when there is renewed enthusiasm for crypto infrastructure companies — especially among those servicing institutional markets rather than retail trading.
Custody services have become central to compliance, risk management, and capital market participation as regulators tighten their standards across jurisdictions. Custody providers do not depend on the volume of transactions that exchanges do. Investors more interested in getting exposure to this type of financial asset have been using it instead because they want to make money from cryptocurrencies without immediately encountering volatile price shifts that occur.
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