BitGo Holdings has completed the first cryptocurrency IPO of 2026, raising $212.8 million by selling shares at $18 each. This price was higher than the original range of $15 to $17 per share.
The company sold 11.8 million shares, exceeding its initial goal. With this IPO, BitGo is now valued at $2.08 billion, marking an important milestone for the crypto sector.
The Palo Alto-based company has been preparing for this IPO for a long time, aiming to take advantage of growing demand for digital asset services. In September 2025, BitGo filed for a U.S. IPO and planned to list its Class A shares on the New York Stock Exchange (NYSE) under the ticker BTGO.
By early January, it targeted a valuation of up to $1.96 billion, becoming the first crypto firm to go public this year.
Goldman Sachs is the lead underwriter for the IPO, with Citigroup also managing the offering. After going public, BitGo will operate as a “controlled company” under NYSE rules, giving it some flexibility in governance typical for new public companies.
The successful IPO comes as more investors are showing interest in cryptocurrency services. BitGo offers safe storage and management for digital assets, mainly for big investors and large crypto traders. By going public, BitGo raises a lot of money and also becomes more trusted and visible in the financial markets.
Ripple Stays Private, Focuses on Strong Finances
While BitGo goes public with its IPO, Ripple Labs, a blockchain payment company from San Francisco, has decided to stay private in 2026. Ripple’s President, Monica Long, said the company does not need to go public because it already has a strong balance sheet and enough cash.
companies list on stock markets to get more investors and liquidity. But Ripple already has both, so an IPO is not necessary right now. In November 2025, Ripple raised $500 million at a $40 billion valuation, with investments from Fortress Investment Group, Citadel Securities, and other major crypto funds.
Earlier in 2025, the company also completed a $1 billion share buyback, repurchasing over 25% of its shares.
Ripple’s choice to stay private is different from BitGo going public. It shows that some crypto companies prefer private funding and controlled growth, while others use IPOs to raise money and expand faster.
Growing Institutional Interest in Crypto
The success of BitGo’s IPO shows that big investors are becoming more interested in cryptocurrencies. Many investors are now focusing on companies that provide digital asset custody and management services as the crypto market grows.
By listing on the NYSE, BitGo gains more credibility, transparency, and attention from potential investors, which can help the company grow even faster.
BitGo’s IPO also marks the start of crypto market activity in 2026 and could encourage other crypto firms to go public.
On the other hand, Ripple is staying private, showing that some blockchain companies prefer controlled growth and private funding instead of rushing to the stock market.
