BitGo Hits NYSE: $212.8M IPO Priced Above Range at $2.08B Valuation

In a bold move amid Bitcoin's dip below $90K, crypto custody powerhouse BitGo priced its NYSE IPO above the expected range at $18 per share. The debut under ticker BTGO raised $212.8 million, valuing the firm at $2.08 billion fully diluted. This marks 2026's first major crypto listing, underscoring deep institutional trust in secure digital asset infrastructure.

Founded in 2013, BitGo pioneered multi-signature wallets and has grown into a custody behemoth managing over $100 billion in assets across 1,550+ tokens. It powers spot crypto ETFs, staking, trading, and lending—services institutions crave for compliance and security. Shares surged 36% on debut day to $24+ before retracing, closing up 2.7% at $18.49, per CoinDesk. Pricing above the $15-$17 range signals strong demand despite market jitters. YZi Labs, backed by Binance's CZ, made a strategic investment, as noted in @pawnie_'s Web3 recap. BitGo CEO Yuval Rooz highlighted custody's resilience over trading volatility. The confidential filing and Goldman Sachs underwriting mirror TradFi playbooks, blending crypto innovation with Wall Street rigor. With tokenized RWAs exploding to $21B TVL, BitGo's regulated custody is primed for tokenized stocks and treasuries.

BTGO's pop lifts crypto infra sentiment, paving the way for Ledger's rumored $4B IPO. Ondo Finance tokenized BTGO shares on Ethereum, Solana, and BNB Chain—bridging NYSE liquidity to DeFi in minutes. Despite $150B crypto market cap wipeout and ETF outflows, this debut shows institutions betting on plumbing over speculation. Expect more listings as BlackRock and ARK eye tokenized assets hitting $28T by 2030.

BitGo's NYSE launch isn't just a win for one firm—it's crypto custody going mainstream. As regulatory clarity builds (CFTC-SEC events loom), expect infra plays to lead the next bull leg. Institutions aren't fading; they're funding the future. Watch BTGO for the real crypto pulse.