Digital asset custody and infrastructure provider BitGo finally made its Wall Street debut on Thursday, launching its Initial Public Offering (IPO) on the New York Stock Exchange (NYSE). It is the first crypto IPO of 2026, raising $218.2 million in stock. BitGo priced its offering at $18 per share, valuing the company at $2.08 billion. BTGO is the ticker under which the shares were traded, and they climbed as much as 36% during the session. It closed at $18.49, representing a 2.7% increase from the offering price.
A Revamp to the Digital Asset Ecosystem
Mike Belshe, the CEO and co-founder of BitGo, informed the customers that the listing will represent a transition to a transparent and credible digital market era. He stated, “As we take this next step into the public markets, we are looking forward to not only strengthening our own foundation, but also advancing the growth and resilience of the entire digital asset ecosystem.” He also added that this milestone can catalyze an increase in the company’s financial flexibility, thus resulting in long-term growth opportunities.
Instant Claiming by Ondo
Within hours of the NYSE debut, Ondo Finance claimed bragging rights of becoming one of the first instances of tokenizing a U.S company’s stock, instantly after its IPO. It announced that it would tokenize BitGo stock through its Markets platform, making it the newly public equity accessible on-chain across the Solana, Ethereum, and the BNB Chain. This move thereby represented one of the first instances of a newly public U.S company stock that can be tokenized and made globally accessible in near real time. This provides global investors faster access to the newly public crypto custodian, allowing investors outside the country to gain access to BitGo without waiting for the brokerage or leaving the blockchain rails, and it enables them to use stablecoins to buy the firm’s stock. The firm has been reported to grow since the market started offering token versions of the major U.S stocks and ETFs. It has locked over $466 million in total value and $6.4 billion in cumulative trading activity. BitGo became the platform’s 205th tokenized security.
The Historical Growth
Founded in 2013, BitGo became one of the few profitable crypto firms, reporting a net income of $35.3 million in the first nine months of 2025. Recently, BitGo received a conditional approval from a top U.S banking regulator, allowing it to convert its state trust bank charter into a national charter, enabling its access across the country. Rather than the price speculation, BitGo’s public debut tests the investor appetite for crypto companies that are focusing on infrastructure and compliance.
BitGo has opened a new window into how Wall Street values the crypto firms with its revenue and institutional clients, especially in cases where the regulatory pressures and market volatility have pushed some high-profile companies out of the spotlight. BitGo provided crypto custody and settlement infrastructure for institutions, becoming a core player in the digital asset space and the market’s back-end infrastructure. Unlike most other crypto IPOs, BitGo is focusing on a more crypto-native approach by putting its shares on-chain from day one. Thus, aligning with the growing trend of moving traditional financial assets into the blockchain, thereby speeding up and improving transaction efficiency.
