This year is anticipated to bring an IPO boom, with a cryptocurrency firm leading the way.

Main Insights

• BitGo, a cryptocurrency custody provider, is making its public market debut today, joining other crypto firms like Circle and Gemini that went public last year.
• Industry experts are calling this year a "supercycle" for IPOs, with anticipated blockbuster listings from companies such as Anthropic and SpaceX.

The IPO market is poised for significant activity this year, with a crypto company leading the way as the first to go public.

BitGo set its IPO price at $18 per share last night, giving the company an estimated valuation of $2 billion. Trading is set to begin today on the New York Stock Exchange under the ticker symbol "BTGO."

The fact that BitGo's shares were priced above the expected range suggests strong investor demand for new public offerings, echoing the excitement seen with last year's crypto IPOs, including Circle (CRCL) and Gemini (GEMI), founded by the Winklevoss twins. This positive momentum bodes well for the many companies planning to go public this year, including potential high-profile IPOs from SpaceX, OpenAI, and Anthropic—some of which could reach trillion-dollar valuations.

Why This Is Important

IPOs often attract investor interest, especially when market conditions are favorable and there is potential for substantial first-day gains. BitGo's listing marks the beginning of what is expected to be a busy year for new public offerings, following a period of slow activity in capital markets.

According to NYSE President Lynn Martin, who spoke with CNBC at the World Economic Forum in Davos, 2026 could see a surge in IPO activity, with momentum expected to build in the latter part of the first quarter and into the second quarter.

PitchBook's latest analysis indicates that U.S. unicorns—private companies valued at $1 billion or more—such as OpenAI, Stripe, and Impossible Foods, are strong candidates to go public soon. The combined valuation of these unicorns reached $4.3 trillion by the end of December, driven largely by rapid growth in artificial intelligence firms.

NYSE's Martin also noted that companies planning large and record-breaking IPOs will be strategic about their timing, closely monitoring market conditions to choose the optimal moment for their debut.

While BitGo's IPO has generated optimism, the broader crypto market has faced challenges since October, including a recent setback when a key piece of digital asset legislation stalled in Washington.

These regulatory hurdles have negatively impacted the share prices of major crypto companies like Coinbase (COIN) and Circle in recent weeks. However, upcoming crypto IPOs, such as the anticipated listing from Kraken—one of the earliest U.S. crypto exchanges—could help boost sentiment in the sector.