BitGo reached a $2.59 billion valuation as its stock soared 24.6% in its New York debut, opening at $22.43 a share. The IPO raised $212.8 million, exceeding the expected range of $15 to $17 per share. The listing is the first major crypto IPO of 2026, signaling market sentiment towards crypto listings.

The Trump administration’s lighter regulatory approach has encouraged crypto businesses to access capital markets. Grayscale and Kraken are potential IPO candidates. Despite market volatility after a fourth-quarter selloff, BitGo’s profitable and regulated business model positions it to weather price fluctuations better than pure token plays.

BitGo, founded in 2013, reported a net income of $35.3 million in the first nine months of 2025. The firm recently received approval to convert its state trust bank charter to a national charter, allowing nationwide operations. The successful IPO reflects growing interest in crypto assets amid evolving regulatory landscapes.

Read more at Yahoo Finance: BitGo debuts with $2.59 billion valuation as crypto IPO window reopens (Jan 22)