BitGo Debuts on NYSE in Year's First Major Crypto IPO, Ondo Tokenizes Stock Hours Later
Digital asset custody and infrastructure provider BitGo debuted on the New York Stock Exchange on Thursday, raising $218.2 million in the first significant cryptocurrency industry initial public offering of 2026.
BitGo priced its offering at $18 per share, valuing the company at $2.08 billion. Shares traded under the ticker BTGO and climbed as much as 36% during the session before closing at $18.49, up 2.7% from the offering price.
Mike Belshe, CEO and co-founder of BitGo, told customers in an email that the listing represents "the next best step to further support our ability to provide the most secure and scalable solutions for the digital asset economy." He said the milestone would increase the company's financial flexibility to pursue long-term growth opportunities.
BitGo has positioned itself as a foundational institutional player in cryptocurrency custody and settlement infrastructure. The IPO is viewed as a milestone in the sector's continued institutionalization as traditional finance increasingly integrates digital assets.
Within hours of the NYSE debut, Ondo Finance announced it would tokenize BitGo stock through its Ondo Global Markets platform, making the newly public equity accessible onchain across Solana, Ethereum and BNB Chain. The move represents one of the first instances of a newly public U.S. company's stock being tokenized and made globally accessible in near real time.
Ondo Global Markets has become the world's largest tokenized securities platform by total value locked since launching in September 2025, with approximately $466 million in TVL and more than $6.4 billion in cumulative trading volume. BitGo becomes the platform's 205th tokenized security.
The rapid tokenization follows the New York Stock Exchange's announcement earlier this week that it is developing a platform for 24/7 trading and settlement of tokenized securities, pending regulatory approval.
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