Core Viewpoint - Ondo Finance is set to tokenize BitGo's stock on blockchain platforms, providing global investors with quicker access to the newly public crypto custodian on the same day as its NYSE listing [1][2]. Group 1: Tokenization and Trading - Ondo Finance claims to be among the first to tokenize a U.S. company's stock shortly after its IPO, allowing international investors to buy BitGo shares using stablecoins without needing brokerage access [2]. - The tokenized shares will be tradable on Ethereum, Solana, and BNB Chain through Ondo Global Markets, enhancing accessibility for global investors [1]. Group 2: BitGo's Market Position - BitGo, a key player in the digital asset space, provides crypto custody and settlement infrastructure for institutions [3]. - The IPO of BitGo is priced at $18 per share, occurring during a challenging period for the broader crypto market, with Bitcoin nearly 30% lower than its October record high [3]. Group 3: Ondo Global Markets Performance - Since launching token versions of major U.S. stocks and ETFs in September, Ondo Global Markets has achieved over $466 million in total value locked and $6.4 billion in cumulative trading activity [4].

Core Viewpoint - BitGo has set its share price for its initial public offering (IPO) at $18, raising $212.8 million and valuing the company at over $2.1 billion [1][2]. Company Overview - BitGo, founded in 2013, operates as a digital asset infrastructure provider, offering services such as custody, wallets, staking, trading, financing, stablecoins, and settlement [5]. - The IPO marks the first major crypto-related listing of 2026, with other companies like Kraken and Grayscale expected to follow [5]. IPO Details - The company will sell a total of 11,821,595 shares of Class A common stock, which includes 11,026,365 shares offered by BitGo and 795,230 shares from existing stockholders [2]. - BitGo will not receive any proceeds from the sale of shares by selling stockholders [2]. - The shares are expected to begin trading on the New York Stock Exchange under the ticker BTGO [1][3]. Underwriters - Goldman Sachs is the lead book-running manager for the offering, with Citigroup also serving in this capacity [4]. - Other book-running managers include Deutsche Bank Securities, Mizuho, Wells Fargo Securities, Keefe, Bruyette & Woods, Stifel, Canaccord Genuity, and Cantor [4]. - Co-managers for the offering include Clear Street, Compass Point, Craig-Hallum, Rosenblatt, Wedbush Securities, and SoFi [4].

Group 1 - This year is anticipated to be significant for IPOs, starting with BitGo's initial public offering priced at $18, which opened at around $22, indicating a market capitalization exceeding $2 billion [1] - The positive reception of BitGo's IPO suggests strong investor enthusiasm for new listings, reminiscent of last year's crypto companies like Circle and Gemini [1][6] - Major companies such as SpaceX, OpenAI, and Anthropic are expected to pursue IPOs this year, with some aiming for valuations that could place them in the trillion-dollar club [1][4] Group 2 - Investors generally favor IPOs, especially under favorable market conditions, as they can lead to significant first-day gains [2] - NYSE President Lynn Martin predicts a "supercycle" of IPO activity in 2026, with an acceleration expected in the latter half of Q1 into Q2 [3] - The aggregate value of U.S. unicorns, which are companies with private valuations of at least $1 billion, was reported at $4.3 trillion at the end of December, driven largely by the growth of AI companies [4] Group 3 - Companies planning large IPOs will be selective about their timing, monitoring market conditions to choose the optimal moment for their public offerings [5] - The positive market response to BitGo's IPO contrasts with the current struggles in the broader crypto market, which has faced challenges since October, including legislative hurdles [5]

Group 1 - BitGo is going public with an IPO that priced above the expected range [1] - The valuation of BitGo is set at $2.1 billion [1]

Core Insights - BitGo is set to become the first cryptocurrency company to list in the United States this year after pricing its initial public offering (IPO) above expectations, marking a significant milestone for the digital asset industry [1] Company Summary - BitGo's IPO pricing exceeded market expectations, indicating strong investor interest and confidence in the company's business model and growth potential [1] Industry Summary - The successful IPO of BitGo represents a pivotal moment for the cryptocurrency sector, potentially paving the way for more digital asset companies to pursue public listings in the U.S. [1]

Group 1 - BitGo Holdings, a cryptocurrency custody and service provider, is set to debut on the New York Stock Exchange, raising $2.13 billion with a share price of $18, above the initial range of $15 to $17 [1] - The company sold 11.026 million shares, with an additional 795,230 shares sold by existing shareholders, and the IPO was reportedly oversubscribed multiple times [1] - BitGo's market capitalization is approximately $2.1 billion based on the share price and the number of shares listed in its SEC filing [1] Group 2 - For the first nine months of 2025, BitGo reported revenue of $10 billion and a net profit of $8.1 million, compared to $1.9 billion in revenue and a net profit of $5.1 million in the same period last year [2] - After the IPO, CEO Mike Belshe will maintain control of the company with 56% voting power, while Valor Equity Partners and Redpoint Ventures will hold 4.6% and 3.9% voting power, respectively [2] - The IPO is being led by Goldman Sachs and Citigroup, with trading expected to commence under the ticker symbol "BTGO" [2]

Core Viewpoint - BitGo Holdings, Inc. has announced the pricing of its initial public offering (IPO) at $18.00 per share for a total of 11,821,595 shares of Class A common stock [1] Group 1: IPO Details - The IPO consists of 11,026,365 shares of Class A common stock being offered by BitGo and 795,230 shares being offered by existing stockholders [1] - BitGo will not receive any proceeds from the shares sold by existing stockholders [1]

Group 1 - BitGo Holdings has priced its initial public offering at $18 per share, which is above the marketed range [1]

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. BitGo Is the Year's First Big IPO. SpaceX, OpenAI, and Other Unicorns Could Be Lining Up. By Paul R. La Monica In this article CRCL BitGo is set to begin trading Thursday on the Nasdaq. (Dreamstime) This new year's first bi ...

Group 1 - BitGo Holdings has initiated its initial public offering (IPO), offering approximately 11.8 million shares of Class A common stock, with 11 million shares being offered directly by the company and the remainder by existing shareholders [1] - The anticipated price range for the IPO is between $15 and $17 per share, potentially valuing the firm at around $1.75 billion at the upper end [2] - BitGo will list on the New York Stock Exchange under the ticker "BTGO," marking a significant step toward mainstream adoption for crypto custodians [2] Group 2 - The IPO trend in the digital assets space follows notable public listings, including Coinbase's direct listing in 2021, which initially valued it at over $85 billion, and Circle's public offering in June 2025, which raised $1.05 billion at $31 per share [3] - Other firms, such as Consensys and Animoca Brands, are planning IPOs in 2026, indicating sustained momentum in the sector [4] - Newly launched IPOs in emerging sectors like digital assets often exhibit high volatility due to speculative trading and regulatory uncertainties, as seen with Circle's stock performance [5][6] Group 3 - The evolution of digital assets into a core component of modern finance is underscored by institutional integration, with firms like BlackRock and Fidelity adopting cryptocurrencies through ETFs and custody solutions [7] - The surge in crypto venture capital funding to $19.7 billion in 2025 reflects growing investor confidence, driven by regulatory clarity under pro-crypto policies [8] - Predictions for 2026 suggest further institutional inflows and record mergers and acquisitions, positioning IPOs like BitGo's as milestones in bridging traditional and decentralized finance [8]