According to ChainCatcher, cryptocurrency asset custodian BitGo Holdings went public on the New York Stock Exchange on Thursday, with significant price fluctuations on its first day of trading. The company's Class A shares (BTGO) surged rapidly after opening, reaching an intraday high of $24.50, a 36% increase, before largely retracing those gains. BitGo's IPO priced at $18 per share, raising approximately $213 million and valuing the company at over $2 billion. At the close of trading, BTGO was at $18.49, a rise of about 2.7% for the day; in after-hours trading, the stock dropped to around $18.35, nearly returning to its IPO price. Market analysts noted that the sharp volatility on BitGo's first trading day reflects both strong investor interest in and divergent expectations for crypto infrastructure companies. Meanwhile, its peers, including Anchorage Digital and Kraken, are also reportedly evaluating the possibility of launching IPOs this year.
BitGo's NYSE Debut Sees Volatile Trading, Shares Rise 36% Before Retreating
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Summary
BitGo's NYSE debut saw strong trading activity, with shares (BTGO) surging 36% to $24.50 before retreating. The IPO raised $213 million, valuing the company at over $2 billion. Shares closed at $18.49, up 2.7%, but fell to $18.35 in after-hours trading. The session was marked by high trading volume, reflecting mixed investor sentiment. Peers such as Anchorage Digital and Kraken are also considering IPOs this year.
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