Analyst doubles down on 2026's first crypto IPO debut today

Cryptocurrency custody institution BitGo Holdings is acceptable to statesman trading nether the ticker "BTGO" on the New York Stock Exchange (NYSE) connected Jan. 22.

It is the archetypal crypto IPO of 2026 and the trading assemblage is glued to their screens successful anticipation of however BitGo shares volition execute connected the charts.

Related: Investor spots accidental successful IPO not ‘priced for perfection’

Founded successful 2013, BitGo is a crypto institution that offers self-custody, regulated trust, and premier brokerage services to organization clients. It holds $104 cardinal worthy of assets connected its platform.

2025 saw a flurry of crypto IPOs arsenic the integer plus marketplace boomed successful the archetypal fractional of the year:

• Bullish crypto trading speech (NYSE: BLSH)

• Gemini crypto speech (Nasdaq: GEMI)

• Stablecoin institution Circle (NYSE: CRCL)

On Sep. 19, 2025, BitGo besides filed with the Securities and Exchange Commission (SEC) to motorboat an IPO.

Come October and the marketplace clang dashed the hopes of the crypto industry, from which it is inactive struggling to recover.

But BitGo didn't retreat and decided to spell up with its IPO plan.

In an SEC filing past week, the institution revealed that it was looking to sell 11.8 cardinal shares with the terms scope of $15-$17 apiece.

On Jan. 20, BitGo priced its IPO at $18 per share, higher than the marketed scope of $15-$17 per share.

The offering is acceptable at around $212.8 cardinal and is expected to adjacent connected Jan. 23.

BitGo besides granted the underwriters a 30-day enactment to bargain up to an further 1,770,000 shares.

The IPO values BitGo astatine implicit $2 billion.

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Matthew Sigel, caput of integer assets probe astatine the concern absorption steadfast VanEck, said not lone is BitGo the first crypto IPO of 2026, but it volition also be the archetypal nationalist institution to connection investors nonstop vulnerability to the crypto custody business.

Though the $2 cardinal valuation is "modest," it volition beryllium 1 of the fewer nationalist crypto companies that apt grew revenues greater than 50% during a "disappointing" crypto marketplace past year, helium added.

The expert said VanEck sees significant upside for BitGo from tokenization and crypto institutionalization amid new SEC rule-making and the imaginable transition of the CLARITY Act.

Sigel praised BitGo for its "unblemished" record connected the information front, arsenic the custody supplier has not witnessed immoderate hack losses truthful far.