BitGo IPO Opens 2026 With $2B Valuation and Custody Focus

• BitGo priced its IPO at $18, raising  $212.8M, valuing the company near $2B.
• Matthew Sigel sees BitGo as the first pure-play crypto custody stock with steady revenue growth.
• Custody and staking drive over 80% of revenue, keeping earnings stable during weak crypto markets.

BitGo priced its initial public offering (IPO) at $18 per share, above the marketed range of $15-$17, valuing the company at around $2B and raising $212.8 million through the sale of 11.8 million shares under the ticker BTGO.

This marks the first crypto-focused IPO of 2026, and the first public equity tied directly to the digital asset custody business. Unlike exchanges, BitGo revenue does not depend on trading volumes.

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