Reuters: IPOX® Associate Muehlbauer Analyzes BitGo's Debut Amidst Crypto Market Headwinds

In a recent article by Reuters, BitGo (BTGO.N) made a strong entrance onto the New York Stock Exchange, marking the first major crypto IPO of 2026. The digital asset trust and security company saw its shares open at $22.43, significantly higher than its $18 offer price, giving the firm a valuation of $2.59 billion. This successful debut comes as the “crypto IPO window” reopens following a period of regulatory uncertainty and market volatility. The article notes that BitGo’s profitability and regulatory compliance were key factors in attracting investors, distinguishing it from more volatile, token-centric ventures.

IPOX® Research Associate Lukas Muehlbauer was featured in the piece, providing expert commentary on the market's reception of BitGo and the broader sentiment for crypto listings. Muehlbauer highlighted the significance of this IPO as a test for investor appetite in the current economic climate, contrasting BitGo's positioning with previous market entrants.

“BitGo's IPO is the first major bellwether of the market’s appetite for crypto listings in 2026. While Gemini listed near the peak of the crypto market last year, BitGo is going public into the headwinds of the recent selloff.”

He further noted the company's strategic advantage in the current environment:

“Marketing itself as a profitable and regulated 'digital asset infrastructure company' instead of a pure token play, BitGo is positioned to be less prone to the day-to-day price movements of bitcoin.”

Read the full article by Atharva Singh and Arasu Basil on Reuters: BitGo debuts with $2.59 billion valuation as crypto IPO window reopens