BitGo Holdings (BTGO) is set to become the first cryptocurrency firm to go public in the U.S. in 2026.
According to a filing released by the company on Wednesday (January 21), the crypto custody firm will debut on the New York Stock Exchange this Thursday (January 22) Eastern Time. The stock has been priced at $18 per share, exceeding the previously announced price range of $15 to $17. The offering is led by Goldman Sachs and Citigroup.
It is reported that BitGo Holdings (BTGO) will issue 11.026 million shares, while certain existing shareholders will sell an additional 795,230 shares. Sources familiar with the matter indicated that the Initial Public Offering (IPO) was significantly oversubscribed.
Based on the IPO price and the outstanding shares listed in its filing with the U.S. Securities and Exchange Commission (SEC), BitGo’s market capitalization will reach approximately $2.1 billion.
The filing also reveals that following the IPO, CEO Mike Belshe is expected to maintain control of the company with 56% of the voting power. Additionally, Valor Equity Partners will hold 4.6% of the voting power, while Redpoint Ventures will hold 3.9%.
Debuting Tonight
The primary business of BitGo Holdings (BTGO.US) is providing security, custody services, and liquidity solutions for digital assets. CEO Mike Belshe co-founded the company in 2013.
The company currently serves as the custodian and infrastructure provider for USD1, a stablecoin issued by World Liberty Financial. Notably, Donald Trump Jr. and Eric Trump, sons of U.S. President Donald Trump, are co-founders of World Liberty Financial.
In the first nine months of 2025, the company reported a net income attributable to shareholders of $8.1 million on revenue of $10 billion, compared to a net income of $5.1 million on revenue of $1.9 billion during the same period the previous year.
The past year saw significant listing activity within the cryptocurrency sector. Several firms, including stablecoin issuer Circle and crypto exchange Bullish, made sensational stock market debuts. In November last year, Kraken, one of the world’s largest crypto exchanges, also secretly filed for a U.S. listing.
However, the cryptocurrency market experienced a sharp correction in the final months of last year, leading to a 6.5% decline in Bitcoin prices for the full year of 2025. The year-end sell-off caused continued volatility across the digital asset industry. Despite this, analysts predict a sustained recovery in the IPO market for 2026, with more crypto and fintech companies signaling their intent to go public.