Key Notes
- BitGo recently went public, marking the first crypto IPO of 2026.
- The crypto custody startup raised $212.8 million from pricing its US IPO at $18 per share.
- Ripple has ditched its IPO plans, citing a strong balance sheet.
BitGo Holdings increased the price of its IPO to $18 per share, from the marketed range of $15 to $17. The company planned to sell 11.8 million shares, according to a Reuters report.
At the upper end of the aforementioned pricing range, it would have made $201 million, at most. By the end of the day, BitGo had raised $212.8 million at $18 per share. Notably, the IPO values BitGo at $2.08 billion.
This crypto firm has been gunning for an IPO for a long time, seeking to ride the wave of booming demand for digital asset infrastructure. Last September, the Palo Alto-based firm filed for a US IPO, with plans to list its Class A shares on the New York Stock Exchange under the ticker BTGO.
On Jan. 12, BitGo announced that it is targeting a valuation of up to $1.96 billion in the first cryptocurrency IPO of this year.
Based on the company’s announcement, Goldman Sachs is serving as lead underwriter with Citigroup also managing the offering. With the IPO now live, BitGo will operate as a “controlled company” under NYSE rules.
Ripple Ditches IPO Plans, Cites Strong Balance Sheet
While firms like BitGo are pursuing their IPO plans, San Francisco-based blockchain payment firm Ripple Labs has taken a detour.
In the first week of this year, President Monica Long confirmed that Ripple has no intention to go public in 2026. She cited a strong balance sheet, stating that the company will remain private with no need for public market capital push.
In Long’s opinion, companies usually pursue listings to access liquidity and a broader investor base. Ripple already has both, she said during an interview. Ripple raised $500 million in November 2025 at a $40 billion valuation. The fundraising round attracted Fortress Investment Group, Citadel Securities, and major crypto funds.
It is worth acknowledging that it also completed a $1 billion tender offer earlier in 2025 at the same valuation. So far, it has repurchased more than 25% of its outstanding shares.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
