BitGo shares surge 36% then retrace in volatile first day of NYSE trading
BitGo's shares experienced a volatile first day on the NYSE, surging 36% before closing only slightly above its IPO price.Summary
Crypto custodian BitGo Holdings debuted on the New York Stock Exchange (NYSE) under the ticker BTGO following an initial public offering (IPO) of $18 per share, raising approximately $212.8 million and valuing the company at over $2 billion. The stock saw a sharp, immediate rally, jumping as much as 36% to an intraday high of $24.50 shortly after the market opened. However, the gains were largely retraced throughout the afternoon session, with BTGO finishing regular trading at $18.49, a modest increase of about 2.7% for the day. Founded in 2013, BitGo is a major U.S. crypto custodian holding over $100 billion in assets and providing custody, wallet, staking, and settlement services to institutional clients. This listing is notable as the first major crypto-related IPO of 2026, occurring amid stabilizing U.S. regulatory conditions, including BitGo's recent conditional approval for a U.S. trust bank charter.
(Source：The Block)