BitGo IPO Soars 20% on First Day, Intraday Market Cap Hits Over $2.6 Billion

**January 23 — BitGo, the cryptocurrency custody and infrastructure firm (ticker: BTGO), debuted on the New York Stock Exchange (NYSE) today, with its first-day trading price jumping roughly 20% from its $18 IPO price. The stock hit an intraday market cap peak of $2.6 billion.** **The IPO included 11.8 million shares, priced above BitGo’s original $15–17 range. It raised approximately $213 million for the company and select shareholders, with a valuation exceeding $20 billion. The strong debut is seen as a positive signal for a potential active IPO cycle in 2026.** **Founded in 2013, BitGo was among the earliest crypto firms to launch a multi-signature digital wallet. It has since expanded into digital asset custody, trading, and digital banking services, serving both institutional and retail clients.** **Per recent SEC filings: BitGo posted $35 million in profit and $10 billion in revenue for the first three quarters of 2025. It turned its first full-year profit in 2024, with net income of $156 million. As of Q3 2025, the platform has 1.71 million users and roughly $104 billion in assets under custody (AUC).** **BitGo’s successful listing comes amid persistent volatility in the crypto market. Market watchers believe the IPO could pave the way for more high-profile tech and financial firms to go public, including rumored candidates like OpenAI, Anthropic, SpaceX, Stripe, and Revolut.**