When institutions enter the crypto space, tying billions of dollars to the market, they bring with them a demand for “extra” caution. While compliance with existing regulations is vital, the presence of a regulated custodian to secure assets is even more critical. Custody is the heart of the crypto ecosystem due to its decentralized nature.
Every Bitcoin in circulation is secured by a set of private keys that prove ownership. If these keys are lost, there is no way to regain access to the underlying asset; a remarkably expensive mistake. Unfortunately, billions of dollars worth of Ethereum, Bitcoin, and even top Solana meme coins are currently unrecoverable; they are, for lack of a better word, “lost,” floating in the digital ether.
Consequently, news that BitGo, a leading crypto custodian, is listing and accepting public investment has excited both retail and institutional communities. While Coinbase and Circle are already trading on leading bourses, BitGo is the first major crypto company to list on a US exchange in 2026, and the industry is watching closely.
Surprisingly, this positive reception did not immediately move the Bitcoin price. Currently, BTC USD is changing hands at around $90,000, swinging within a tight but precarious range.
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BitGo IPO: Overwhelming Demand, What You Need To Know
BitGo is a crypto custodian that holds digital assets for its clients. Think of it as a high-security vault for Bitcoin and other coins, specifically built for hedge funds, exchanges, and ETFs that cannot simply store assets on a laptop. Since 2013, BitGo has grown to manage more than $100Bn in assets under custody.
Investors had every reason to watch how the market would scoop up BitGo shares. Its debut serves as a “litmus test” for other crypto firms waiting in the wings; major players like Grayscale and Kraken are reportedly monitoring BitGo’s reception as they consider their own public listings later this year. In a positive signal for 2026, shares began trading on the NYSE at $18, way above the initial marketed range and implying a valuation north of $2Bn.
First crypto company IPO of 2026 tomorrow…
BitGo prices at $18/share.
Implied market value of $2.1bil. pic.twitter.com/CVe6HYI3I6
— Nate Geraci (@NateGeraci) January 22, 2026
Pricing at $18 before the opening bell signals clear demand. Wall Street is showing a strong appetite for crypto infrastructure, even amidst a shifting regulatory landscape. Through the IPO, BitGo raised over $212M by selling 11.8MClass A shares.
Notably, most of these shares were issued by BitGo itself rather than sold by early insiders, suggesting the company is prioritizing fresh capital for growth. For everyday investors, this confirms that “boring” but necessary crypto services have earned public-market approval. The offering was led by Goldman Sachs and Citigroup, with support from Deutsche Bank and Mizuho.
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Wall Street Prioritizes Stability: Is BitGo The Next Big Thing in 2026?
Custody is where crypto meets regulation. Large institutions must prove their assets are stored safely, insured, and audited. BitGo already operates with regulated products and has earned approvals in Europe under MiCA rules, making it easier for traditional funds to participate. While exchanges earn trading fees that fluctuate with market sentiment, BitGo focuses on institutional infrastructure. Serving nearly 5,000 institutional clients, its success is a direct reflection of “big money” confidence.
The IPO comes at a pivotal moment as the US government navigates the GENIUS Act and other bills aimed at clarifying rules for digital securities. Even as Washington seeks clarity, BitGo is taking its own initiative. In December 2025, the company secured OCC approval to convert to a Federally Chartered National Trust Bank. This places BitGo on the same regulatory tier as giants like BNY Mellon or State Street, reducing the “crypto risk” profile for shareholders.
huge release today. OCC approves five national trust charters. two de novo (Ripple and First National) and three conversions from state charters (Fidelity, BitGo, Paxos).
Note that Trusts don’t take deposits or make loans like commercial banks, but they can do qualified… pic.twitter.com/dfYdZhIKxp
— nic carter (@nic_carter) December 12, 2025
Unlike exchanges, which see revenue drop when traders go into “defense mode” during market dips, custodians earn steady fees for safekeeping. This stability appeals to traditional investors and supports the broader narrative of institutional adoption. As the SEC likely considers more spot crypto ETFs in 2026, BitGo stands out as a primary beneficiary of the spike in demand for regulated custody.
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