Overview
- BitGo priced its offering at $18—above the $15–$17 range—selling 11,821,595 Class A shares to raise about $212.8 million and granting underwriters a 30‑day option for 1.77 million additional shares.
- Trading under the ticker BTGO, the stock opened at $22.43 on Jan. 22, up roughly 24.6% from the offer price, implying a market value near $2.59 billion.
- The IPO pricing implied a valuation around $2.0–$2.2 billion, with the stronger open lifting the company’s market capitalization well above the IPO level.
- BitGo reports about $104 billion in assets under custody and generates most of its revenue from custody and staking, a service‑driven mix viewed as more stable than trading‑heavy models.
- The debut is widely viewed as an early 2026 gauge of demand for regulated crypto infrastructure, following BitGo’s December 2025 conditional approval to convert to a national trust bank.