Stock Surges 36% on NYSE

• BitGo Holdings made its highly anticipated debut on the NYSE on January 22.
• The initial offering raised approximately $212.8 million at a price of $18 per share.
• Changpeng “CZ” Zhao’s YZi Labs did not say exactly how much it invested.

BitGo Holdings (a notable US crypto custody and digital asset infrastructure company) made its highly anticipated debut on the New York Stock Exchange on January 22, marking one of the first big crypto company stock launches of the year.

The initial offering raised approximately $212.8 million at a price of $18 per share, valuing the company at roughly $2 billion.

Soon after the stock started trading, BitGo’s share price jumped sharply at the open, rising as much as 36% to about $24.50 before falling back later in the day as some investors sold. It finished the day slightly above the IPO price.

Participation from YZi Labs

YZi Labs, an investment fund linked to Binance co-founder Changpeng “CZ” Zhao, stated it purchased a strategic stake in BitGo as part of the IPO. The company did not say exactly how much it invested.

According to YZi Labs head Ella Zhang, the choice to invest came from a strong belief in crypto infrastructure built for big, regulated investors. She pointed to BitGo’s proven safety record and focus on following rules as key reasons, which are seen as vital for drawing in major, long-term capital.

On the other hand, Mike Belshe, BitGo’s CEO, said that the support shows both companies are equally focused on building secure, rule-following crypto services: “YZi Labs’ strategic investment is not just a backing; it is a shared commitment to a future built on compliant, institutional-grade infrastructure. By combining BitGo’s no-compromises approach to security technology with Binance and BNB ecosystem’s global market reach, we are setting the standard for how the world’s capital enters this space.”

Why This Listing is Important

BitGo going public on the NYSE is a huge step for the industry’s growth. It’s particularly important for the secure storage and tech services used by professional investors like hedge funds and asset managers.

BitGo looks after tens of billions of dollars globally and offers services like secure holding, staking, and trade settlements. Its public debut helps connect traditional Wall Street with the crypto market, giving retail investors a regulated way to bet on the companies that build and run the crypto economy.

Interestingly, several other big names in crypto are also rumored to go public this year.

For instance, Ledger, the hardware wallet and security provider, is reportedly eyeing a New York IPO that could value the company at around $4 billion. Also, both the exchange Kraken and investment firm Grayscale could launch their own IPOs this year.

Related: BitGo IPO Opens 2026 With $2B Valuation and Custody Focus