BitGo's $50 million buyback sparks rally after shares lost 65% since IPO

BitGo's $50 million buyback sparks rally after shares lost 65% since IPO

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

$

59,890.45

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

$

59,890.45

2.65

%

Latest Crypto News

1

Live markets: Bitcoin rebounds to nearly $60,000. Kospi, Nikkei sink

27 minutes ago

2

Asset management giant Invesco files for tokenized fund targeting stablecoin reserve market

8 hours ago

3

Coinbase's Base blockchain resumes after two-hour outage disrupted network

10 hours ago

4

Strategy's yield-generating STRC stock is more correlated with BTC than ever

11 hours ago

5

Kraken in talks to buy 15% stake in DeFi lender Aave at $385 million valuation

12 hours ago

6

a16z-backed crypto firm rebrands, shifts focus to solving AI’s global copyright headache

12 hours ago

7

BlackBerry is making a massive comeback as an 'uncrashable' software layer for AI and robotics

13 hours ago

8

Strategy has a 10-month cash runway for dividends, but retail investors are losing faith

13 hours ago

9

Quant fund says bitcoin is near a major inflection point as rare onchain signals align

14 hours ago

10

Bitcoin tumbles to new multi-year low of $58,000, but a short-squeeze setup emerges

14 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

Strategy's yield-generating STRC stock is more correlated with BTC than ever

BlackBerry is making a massive comeback as an 'uncrashable' software layer for AI and robotics

Strategy has a 10-month cash runway for dividends, but retail investors are losing faith

More From

Bitcoin

Live markets: Bitcoin rebounds to nearly $60,000. Kospi, Nikkei sink

Asset management giant Invesco files for tokenized fund targeting stablecoin reserve market

Coinbase's Base blockchain resumes after two-hour outage disrupted network

CD20

$1,602.17

CD20 down 3.40 percent

3.40%

BTC

$59,912.58

BTC down 2.61 percent

2.61%

ETH

$1,556.12

ETH down 5.32 percent

5.32%

XRP

$1.03

XRP down 4.61 percent

4.61%

SOL

$68.25

SOL down 1.02 percent

1.02%