BitGo Makes History With First Crypto IPO in 2026 as Market Shows Modest Gains

BitGo has made a major milestone in the digital asset industry by becoming the first crypto-focused company to go public in 2026, marking a historic moment for institutional crypto adoption. This development comes amid a modest rebound in the crypto market, with Bitcoin hovering around $89,000 and leading altcoins such as Ethereum (ETH), Solana (SOL), Cardano (ADA), and XRP recording slight gains over the past 24 hours. Against this backdrop, BitGo’s IPO has captured significant attention from investors and industry participants alike.

BitGo Holdings officially launched its initial public offering on January 22, 2026, debuting on the New York Stock Exchange under the ticker symbol BTGO. The company priced its shares at $18, raising nearly $213 million and achieving an initial valuation of approximately $2.08 billion. On its first trading day, BitGo shares surged by around 25%, signaling strong investor confidence and robust demand for regulated crypto infrastructure companies.

Founded in 2013 in Palo Alto, California, BitGo is widely recognized as one of the largest institutional crypto custodians in the world. The company supports more than 1,550 digital assets and safeguards over $104 billion in assets under custody. Its core services include institutional-grade crypto custody, secure wallet solutions, staking, and regulated infrastructure tailored for enterprises and financial institutions seeking compliant exposure to digital assets.

While BitGo celebrated a strong market debut, Circle Internet Group, the issuer of the USDC stablecoin, experienced a short-term decline. Circle’s stock dipped about 2% in the last 24 hours, settling near $71.20, despite gaining roughly 10% over the past week and nearly 20% over the past month. However, Circle has faced notable volatility, with its stock down around 30% over the past three months, largely due to its heavy reliance on interest income generated from USDC reserves.

BitGo’s diversified revenue model positions it favorably against competitors like Circle. Unlike Circle, which depends primarily on stablecoin-related income, BitGo generates revenue through service fees from institutional clients. This business model reduces exposure to crypto price volatility and provides a potentially more stable growth trajectory, strengthening BitGo’s long-term outlook in the evolving digital asset ecosystem.