NYSE:MPC News 19 January 2026

January 22, 2026, 1:56 PM EST. BitGo, a crypto custody firm, surged 24.6% on its New York Stock Exchange debut, hitting a $2.59 billion valuation. The stock opened at $22.43, above its $18 offer price, raising $212.8 million from selling 11.8 million shares. This marks 2026's first major crypto IPO amid renewed market interest after a quiet late 2025 due to the U.S. government shutdown. BitGo, profitable with a $35.3 million net income in the first nine months of 2025, benefits from a regulated position as a "digital asset infrastructure company" to avoid crypto volatility. The firm recently got conditional approval to operate nationally under a banking charter, signaling institutional confidence. The IPO indicates cautious optimism despite crypto market volatility, with other players like Grayscale and Kraken eyed for potential listings.