Ledger, the French maker of hardware wallets for crypto assets, is reportedly moving ahead with plans for a potential initial public offering (IPO) in New York, signaling continued momentum in public market interest for digital asset companies. 

The listing would place Ledger among a growing group of crypto firms seeking access to US capital markets, following the recent public debut of BitGo earlier this week.

Ledger Taps Wall Street Giants For US IPO

The move comes amid a broader initial public offering wave that gained strong traction throughout 2025, when several major crypto-native companies either went public or began laying the groundwork to do so. 

Firms such as Circle (CRLC), Bullish (BLSH), eToro (ETOR), Figure (FIGR), and Gemini (GEMI) have already gone public in the US, while Grayscale and Kraken remain part of the renewed IPO push, with filings submitted and preparations still underway.

According to a report by the Financial Times, Ledger has engaged investment banks including Goldman Sachs and Barclays to advise on its initial public offering in the United States. 

People familiar with the matter say the offering could value the company at more than $4 billion. While the IPO could take place as soon as this year, sources cautioned that the plans remain subject to change.

Ledger’s reported IPO ambitions come as BitGo opened trading on Thursday with its shares jumping 24.6%, giving the company a valuation of approximately $2.59 billion. 

BitGo and several of its existing shareholders sold 11.8 million shares priced above the initially marketed range of $15 to $17, raising $212.8 million in the process.

BitGo Sets Tone For 2026 Crypto IPOs

Market experts have pointed to BitGo’s performance as an important signal for the broader crypto IPO landscape. Lukas Muehlbauer, an IPOX research associate, described BitGo’s listing as the first major test of investor demand for crypto-related offerings in 2026. 

He noted that while Gemini went public near the peak of the crypto market last year, BitGo entered the market during a period of recent selloffs, making its reception particularly telling. 

Muehlbauer added that BitGo’s positioning as a profitable and regulated “digital asset infrastructure company,” rather than a business tied directly to token price movements, helped insulate it from “Bitcoin’s (BTC) day-to-day volatility.”

Beyond Ledger, expectations are building that the pipeline of crypto IPOs will continue to grow. In addition to Kraken and Grayscale, industry experts believe the coming year could bring an even larger number of crypto-related IPOs in the US. 

“2025 marked the professionalization of crypto, and the public markets noticed,” said Mike Bellin, a partner at PwC who leads the firm’s US IPO practice. 

Some offerings, however, have faced delays. Elliot Han, chief investment officer at C1 Fund, said that the fourth quarter could have seen an even higher number of IPOs. 

He pointed to the federal government’s prolonged shutdown as a key factor that pushed several listings into the first quarter of 2026. Han also noted that heightened stock market volatility toward the end of the third quarter added further complications.

Featured image from DALL-E, chart from TradingView.com 

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BitGo Holdings marked a milestone on January 22 celebrating its debut as a publicly traded company on the New York Stock Exchange under the ticker symbol BTGO.

Members of BitGo’s leadership team rang the NYSE Opening Bell at 9:30 a.m. ET formally ushering the digital asset infrastructure provider into the public markets.

“Today marks a defining moment for BitGo,” said Mike Belshe, chief executive officer and co-founder of the company. “Our entry into the public markets will enable us to further accelerate the financial system’s transition toward a transparent and credible digital asset economy, while continuing to deliver exceptional security, custody and liquidity solutions for our clients.”

pic.twitter.com/ofRN4yNyLm

— Mike Belshe (@mikebelshe) January 22, 2026

Building Institutional Crypto Infrastructure

BitGo’s public debut follows more than a decade of growth focused on secure and compliant digital asset services. The company began as a pioneer of multi-signature security and institutional-grade wallets before expanding its offering to include regulated custody, trading and infrastructure services.

Over time, BitGo established BitGo Bank & Trust, a nationally chartered digital asset bank, and launched BitGo Prime Trading alongside an OTC trading desk.

The company has also expanded into Stablecoin-as-a-Service and Crypto-as-a-Service offerings, positioning itself as a core infrastructure provider for institutions operating in digital assets.

Scale and Global Reach

As of September 30, 2025, BitGo served more than 4,900 clients across over 100 countries and supported more than 1,550 digital assets. Its client base spans digital asset ecosystems, financial institutions, technology platforms, corporations and government entities.

From its origins in safety and security, BitGo has developed a comprehensive product suite covering self-custody wallets, qualified custody, liquidity and prime brokerage services, and infrastructure-as-a-service for builders and investors across the crypto economy.

Positioning for the Next Phase of Digital Finance

Headquartered in Sioux Falls, BitGo has built its reputation around regulatory compliance and institutional trust at a time when digital asset markets are increasingly intersecting with traditional finance.

As a newly listed company, BitGo said it plans to leverage its public market profile to further strengthen its infrastructure and expand its role within the evolving digital financial system.

Belshe said the company’s next chapter will focus not only on BitGo’s own growth, but also on supporting the broader resilience of the digital asset ecosystem. “We believe the opportunity ahead is significant and that we are uniquely positioned to help institutions navigate the road ahead,” he said.

BitGo’s listing comes amid renewed interest in crypto-related equities, as investors look for regulated, infrastructure-led exposure to the digital asset economy.

The post BitGo Debuts on New York Stock Exchange Trading Under Ticker BTGO appeared first on Cryptonews.

The debut signals a shift for digital asset infrastructure, with Goldman Sachs and Citigroup leading the underwriting syndicate. 

The post BitGo Shatters Expectations With $212M Crypto IPO appeared first on TechRepublic.

The debut signals a shift for digital asset infrastructure, with Goldman Sachs and Citigroup leading the underwriting syndicate. 

The post BitGo Shatters Expectations With $212M Crypto IPO appeared first on TechRepublic.

BitGo Holdings has priced its initial public offering at $18 per share, which would value the offering at approximately $212.8 million and place its valuation at over $2 billion on a fully diluted basis. BitGo will be offering 11,026,365 Class…

BitGo Holdings has priced its initial public offering marking a huge milestone for the crypto industry as one of the first digital asset infrastructure firms to go public in 2026.

In a statement released Wednesday, BitGo said it had priced its upsized IPO at $18.00 per share offering an aggregate of 11,821,595 shares of Class A common stock. The offering reflects strong investor demand as public market appetite for crypto-related infrastructure shows signs of recovery.

Offering Structure and Share Allocation

The IPO consists of 11,026,365 shares of Class A common stock offered by BitGo and 795,230 shares sold by certain existing stockholders. The company said it will not receive any proceeds from the sale of shares by selling stockholders.

BitGo has also granted underwriters a 30-day option to purchase up to 1,770,000 additional shares of Class A common stock at the public offering price, less underwriting discounts and commissions.

NYSE Listing and Trading Timeline

BitGo’s shares are expected to begin trading on the New York Stock Exchange on January 22, 2026, under the ticker symbol BTGO. The offering is expected to close on January 23, subject to customary closing conditions.

The listing positions BitGo among a small but growing group of crypto-native firms accessing public equity markets amid improving investor sentiment.

Backbone of Institutional Crypto Infrastructure

Founded as a crypto custody and infrastructure provider BitGo has become a core service provider for institutional participants in digital assets. Its offerings span custody, wallet infrastructure, settlement, staking and treasury management, supporting exchanges, asset managers and corporate clients.

The public debut comes as interest in crypto-related equities shows signs of recovery, driven by stabilising markets and renewed institutional engagement.

Banks and Regulators Involved

The IPO is being led by Goldman Sachs & Co. LLC as lead book-running manager, with Citigroup acting as a book-running manager.

Additional book-running managers include Deutsche Bank Securities, Mizuho, Wells Fargo Securities, Keefe, Bruyette & Woods, Canaccord Genuity and Cantor. Clear Street, Compass Point, Craig-Hallum, Wedbush Securities, Rosenblatt and SoFi are acting as co-managers.

A registration statement relating to the offering was declared effective by the U.S. Securities and Exchange Commissionon January 21 with the offering being made solely by means of a prospectus.

Market participants view BitGo’s IPO as a potential bellwether for the 2026 crypto IPO pipeline with its post-listing performance likely to influence whether other digital asset infrastructure and services firms pursue public listings in the months ahead.

BitGo Expands Institutional OTC Platform

Earlier this month, BitGo expanded its institutional over-the-counter (OTC) trading platform to support derivatives trading, strengthening its push to offer full-service, regulated infrastructure for sophisticated digital asset strategies.

BitGo has expanded its institutional OTC trading platform to support derivatives, strengthening its push to offer regulated infrastructure for digital asset strategies.#BitGo #Derivatives https://t.co/UoFz5hyLcd

— Cryptonews.com (@cryptonews) January 13, 2026

The move allows institutions to trade OTC derivatives directly with a BitGo trading entity while keeping client collateral in separately regulated BitGo custody.

The expansion comes as institutional participation in crypto markets continues to mature, with growing demand for complex trading strategies executed alongside robust risk management and custody safeguards.

The post BitGo Prices IPO, Marking One of the First Crypto Listings of 2026 appeared first on Cryptonews.

Bitcoin Magazine

Crypto Firm BitGo Eyes Near $2 Billion Valuation in US IPO

Crypto custody firm BitGo has launched its initial public offering, seeking to raise up to $201 million, according to a filing with the U.S. Securities and Exchange Commission.

The Palo Alto, California-based company is offering roughly 11.8 million shares of Class A common stock at an expected price range of $15 to $17 per share.

The offering includes 11 million shares sold by BitGo and about 821,600 shares offered by existing stockholders, with the company not receiving proceeds from those secondary sales. Underwriters will also have a 30-day option to purchase up to an additional 1.77 million shares.

Founded in 2013, BitGo is one of the largest crypto custody providers in the U.S., offering secure storage and infrastructure services for digital assets as institutional participation in crypto continues to expand.

The company plans to list on the New York Stock Exchange under the ticker symbol BTGO. Goldman Sachs is serving as lead book-running manager, with Citigroup and several other banks participating in the offering.

Bitgo receives nod from OCC

In December, Bitgo was one of five digital asset firms to receive conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to become a federally chartered national trust bank, alongside Ripple, Circle, Fidelity Digital Assets, and Paxos. 

The decision marked a significant step in bringing major crypto companies further into the U.S. federal banking system.

The conditional approvals allow the firms to convert from state-level trust charters to national trust bank status, pending the fulfillment of OCC requirements. Once finalized, the companies will join roughly 60 existing national trust banks overseen by the OCC, enabling them to offer fiduciary and custody services nationwide. 

Unlike full-service national banks, trust banks cannot take deposits or issue loans, but they can safeguard and manage customer assets, including digital assets.

BitGo’s IPO adds to the growing wave of crypto companies testing the public markets, but it stands apart from the usual exchange-led listings. Instead of relying on trading activity, BitGo makes its money by providing custody, compliance, and infrastructure services tied to safeguarding digital assets.

That difference could resonate with regulators and investors who have grown more cautious about trading-driven crypto businesses.

As attention shifts toward firms focused on compliance, settlement, and asset protection, BitGo’s debut fits a broader narrative gaining momentum in U.S. markets.

This post Crypto Firm BitGo Eyes Near $2 Billion Valuation in US IPO first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Fold Launches Nationwide Bitcoin Services Across All 50 States With BitGo

Fold Holdings, Inc. ($FLD), a publicly traded Bitcoin financial services company, just announced that its platform is now available in all 50 U.S. states.

The expansion follows a strategic partnership with BitGo Bank & Trust, which recently became one of the first digital asset companies to secure a federal bank charter from the Office of the Comptroller of the Currency (OCC).

The move marks a rare milestone in U.S. consumer Bitcoin services: Fold is the first platform to operate nationwide under a single federally supervised trust framework. 

Previously, state-by-state licensing and regulatory barriers constrained consumer access, particularly in states like New York. With BitGo’s charter, Fold can now provide Bitcoin exchange and custody services across the entire country, including historically restrictive markets, this is according to the company’s statement shared with Bitcoin Magazine. 

Fold wants a ‘national framework’ for Bitcoin

“BitGo B&T’s federal bank charter combined with Fold’s Bitcoin financial products gives the U.S. its first true national framework for Bitcoin access,” said CEO Will Reeves. “It replaces a patchwork of state rules with a single, regulated structure, creating a clear path forward for both companies and consumers.” 

Reeves emphasized that nationwide availability allows the company to scale its offerings and deliver Bitcoin products in line with federal oversight.

The company’s consumer-facing products include its Bitcoin Gift Card and the upcoming Fold Bitcoin Credit Card, which will now reach previously untapped markets. 

BitGo provides the digital asset infrastructure through its Crypto-as-a-Service platform, enabling them to operate within a federally supervised compliance framework while continuing to innovate in rewards, payments, and custody services.

“This is a meaningful moment for both BitGo B&T and Fold,” said Frank Wang, Executive Director of Fintech Sales at BitGo. “Our conversion to a federal bank charter allows us to support consumer platforms at a national level, and Fold is a natural partner in that effort. Access has been limited by geography, but with a national framework, both companies can now operate as intended — responsibly and across the entire U.S.”

This partnership positions FLD to capture a wider audience while aligning consumer crypto services with federal standards. At the same time, reliance on BitGo introduces dependencies: any regulatory or operational issues at BitGo could affect the company’s nationwide offering. 

Fold is beginning to onboard users nationwide, the company said, with details of product availability to be shared as the rollout progresses. 

This post Fold Launches Nationwide Bitcoin Services Across All 50 States With BitGo first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Five Crypto Firms Win Conditional Approvals as National Trust Banks, Including Fidelity and BitGo

The U.S. Office of the Comptroller of the Currency (OCC) has granted conditional approvals for five digital asset firms — Ripple, Circle, Fidelity Digital Assets, BitGo, and Paxos — to become federally chartered national trust banks, marking a major milestone in the integration of cryptocurrency into traditional finance.

The approvals, announced Friday, allow the firms to convert from state-level trust charters to federal status, subject to meeting the OCC’s conditions. 

Once finalized, these institutions will join roughly 60 other national trust banks regulated by the OCC, gaining the ability to offer fiduciary and custody services nationwide. 

Unlike larger national banks, trust banks cannot accept cash deposits or make loans, but they can hold and manage customers’ digital assets.

‘Huge news’ for crypto

Circle, issuer of the $78 billion USDC stablecoin, said the charter would enhance the safety and regulatory oversight of its reserves while enabling fiduciary digital asset custody for institutional clients.

CEO Jeremy Allaire emphasized that the federal charter would provide “greater clarity and confidence” to institutions building on Circle’s platform as stablecoins gain mainstream adoption.

Paxos, known for PYUSD and the consortium-backed Global Dollar (USDG), said federal oversight would allow businesses to issue, custody, trade, and settle digital assets with clarity and confidence. 

The firm, which has operated under a New York Department of Financial Services (NYDFS) charter since 2015, first applied for a federal charter in 2020.

BitGo, a South Dakota–based crypto custodian, said the federal charter would allow it to expand services nationwide, including trading, staking, stablecoin, and treasury offerings for institutions. BitGo has also filed to go public, reporting $4.19 billion in revenue for the first half of 2025, up from $1.12 billion during the same period in 2024.

The approvals reflect a broader trend toward federal oversight of digital assets, coming after Anchorage Digital became the first federally chartered crypto bank in the U.S. Other firms, including Coinbase, Bridge (owned by Stripe), and Crypto.com, have also applied for federal charters.

OCC Comptroller Jonathan V. Gould emphasized that new entrants into the federal banking sector benefit consumers, foster competition, and promote innovation.

 “The OCC will continue to provide a path for both traditional and innovative approaches to financial services to ensure the federal banking system keeps pace with the evolution of finance and supports a modern economy,” Gould said.

This post Five Crypto Firms Win Conditional Approvals as National Trust Banks, Including Fidelity and BitGo first appeared on Bitcoin Magazine and is written by Micah Zimmerman.