BitGo stock surges on $50 million share buyback as value languishes 65% below IPO price

Markets BitGo stock surges on $50 million share buyback as value languishes 65% below IPO price The buyback comes as newly public digital-asset firms face a tougher environment, with crypto markets lagging and investor attention shifting toward AI stocks. By Krisztian Sandor | Edited by Sheldon Reback Jun 17, 2026, 2:52 p.m. 2 min read Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email Make preferred on BitGo at NYSE. (X/Matt Ballensweig) Summary Show BitGo stock rose as much as 20% on Wednesday after the company authorized a $50 million share repurchase program. The equity remains more than 65% below its January IPO price. The firm is positioning itself to benefit from Europe's crypto licensing deadline by offering regulated infrastructure services. Crypto infrastructure provider BitGo's (BTGO) shares jumped as much as 20% on Wednesday after the company announced a $50 million share buyback program to support a stock that has struggled since its public debut earlier this year. The initiative allows the company to repurchase up to $50 million of its common stock, about 8% of outstanding shares, through open-market purchases, privately negotiated transactions and block trades. The company said the program takes effect immediately and has no fixed expiration date. "This authorization reflects the Board's confidence in our business and long-term trajectory," Chief Financial Officer Ed Reginelli said in a statement. The rally offered some relief for investors after a difficult stretch. Even after the early Wednesday gain, BitGo shares remain about 65% below their January debut on the New York Stock Exchange. The shares were priced at $18 in the IPO, and traded recently around $6.07. The decline is a reflection of a broader slump in investor sentiment toward digital asset-linked stocks. After a wave of crypto IPO enthusiasm last year, bitcoin BTC $ 65,091.43 and cryptocurrency prices have tumbled, and attention has increasingly turned toward artificial intelligence (AI) companies and a pipeline of highly anticipated tech listings like SpaceX (SPCX). Several crypto companies, including Kraken and Consensys , have halted their efforts amid turbulent crypto markets. BitGo provides custody, trading, staking and settlement services for digital assets. It also issues USD1, the U.S. dollar stablecoin tied to the Trump family-backed World Liberty Financial project. The firm has also been promoting its Germany's BaFin-regulated infrastructure platform as an option for companies adapting to the European Union's digital asset regime, MiCA, ahead of a licensing deadline at the end of the month. Markets Custody Stablecoins Related Assets Bitcoin $ 65,091.43 0.76 % Latest Crypto News 1 Crypto’s security nightmare won’t be solved by ordinary audits 40 minutes ago 2 Mexican billionaire with 70% of his investment portfolio in bitcoin says it's better than real estate 52 minutes ago 3 Kevin Warsh's first Fed meeting could be more about communication than rates 54 minutes ago 4 CoinDesk 20 performance update: Bitcoin Cash (BCH) drops 3.1%, leading index lower 1 hour ago 5 A new Bittensor proposal would turn validators into something like fund managers 1 hour ago 6 SpaceX's $2.6 trillion market cap nearly double that of bitcoin 2 hours ago 7 Bitcoin's June downturn leaves $8.6 billion in options out of the money 3 hours ago 8 Fifth-generation Kanoo group member is moving a $6 trillion trade market onto blockchain rails 3 hours ago 9 Three Fed signals that could make bitcoin pop 3 hours ago 10 UNI token surges while rest of crypto market looks to Fed's Warsh for guidance 4 hours ago Latest Research CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. By CoinDesk Research Jun 15, 2026 In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. Why it matters : In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. View Full Report More From Markets Kevin Warsh's first Fed meeting could be more about communication than rates SpaceX's $2.6 trillion market cap nearly double that of bitcoin Bitcoin's June downturn leaves $8.6 billion in options out of the money More From Bitcoin Crypto’s security nightmare won’t be solved by ordinary audits Mexican billionaire with 70% of his investment portfolio in bitcoin says it's better than real estate Kevin Warsh's first Fed meeting could be more about communication than rates