The first encrypted IPO of the year! BitGo (BTGO.US) landed on the New York Stock Exchange on Thursday, with a higher than expected pricing of $18 per share, raising $2.13 billion.

Cryptocurrency custody and service provider BitGo Holdings, Inc. (BTGO.US) will debut on the New York Stock Exchange on Thursday, Eastern Time, raising a total of $2.13 billion, with an offering price higher than the previously recommended range. The company announced on Wednesday that each share would be priced at $18, above the recommended range of $15 to $17. BitGo itself has issued 11.026 million shares, with selling shareholders offering an additional 795,230 shares. According to insiders, the public offering received multiple times oversubscription. Based on the offering price and the number of shares listed in the documents submitted to the U.S. Securities and Exchange Commission, BitGo's market value is approximately $21 billion. BitGo is the first cryptocurrency company to go public in the United States in 2026. The industry experienced a wave of listings last year, but the cryptocurrency market saw a downturn in the last few months of the year, with Bitcoin prices falling by 6.5% over the entire year in 2025. Founded in 2013 by CEO Mike Belshe as a cryptocurrency wallet company, BitGo's business has since expanded to digital asset security, custody, and liquidity services. The company also serves as the custody and infrastructure provider for World Liberty Financial Inc.'s USD1 stablecoin associated with Trump. Donald Trump Jr. and Eric Trump are co-founders of this DeFi project. According to the documents, Belshe is expected to maintain control of the company with 56% of the voting rights after the IPO. Valor Equity Partners will have 4.6% of the voting rights, and Redpoint Ventures will have 3.9%. In the first nine months of 2025, BitGo had revenues of $1 billion and a net profit of $8.1 million attributed to shareholders; in the same period the previous year, revenues were $1.9 billion with a net profit of $5.1 million. The offering is being led by Goldman Sachs Group, Inc. and Citigroup Group. BitGo is expected to begin trading on the New York Stock Exchange on Thursday with the ticker symbol "BTGO."