Crypto custody firm BitGo is set to make its New York Stock Exchange debut on Thursday, raising $2.13 billion after pricing its IPO at $18 per share—comfortably above the marketed range. Investors couldn’t get enough: the deal was reportedly multiple times oversubscribed, giving the company a valuation around $2.1 billion. That’s serious interest, especially after a year when Bitcoin was down 6.5% and many crypto headlines were “uh-oh” moments. At first glance, BitGo’s strong IPO demand suggests some renewed interest in crypto infrastructure. But the story is more nuanced. BitGo isn’t just a wallet—it provides custody and security services for institutional crypto holdings, helping hedge funds, exchanges, and other financial firms store digital assets safely. In a market still sensitive to
BitGo IPO Debut: Can it Replicate Circle's Performance?
Crypto custody firm BitGo is set to debut on the New York Stock Exchange on Thursday, raising $2.13B after pricing its IPO at $18, above the marketed range. The deal was reportedly multiple times oversubscribed, valuing BitGo at around $2.1B. As the first U.S.-listed crypto company of 2026, the listing comes after a volatile year in digital assets, with Bitcoin down 6.5% in 2025. Does BitGo’s oversubscribed IPO signal renewed confidence in crypto infrastructure plays? After Bitcoin’s weak 2025, is the market ready to reprice custody and service providers?
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