BitGo Pops 25% in NYSE Debut, a Sign Crypto IPO Fever Is Back

Shares of BitGo opened nearly 25% higher in the crypto-infrastructure firm’s New York Stock Exchange debut, marking the first major test for digital-asset company IPOs since the sector’s market downturn late last year. 

BitGo’s initial public offering was priced Wednesday at $18 a share, above the expected range. The company and its shareholders raised $212.8 million by selling about 11.8 million shares. Its shares, which trade under the ticker symbol BTGO, opened at $22.43 Thursday and closed at $18.49. With Thursday’s closing price, investors are valuing the company at $2.1 billion.