Overview
- BitGo priced its IPO at $18 per share, above the $15–$17 range, selling about 11.8 million Class A shares plus roughly 795,000 from existing holders, with Goldman Sachs and Citigroup leading the deal and a 30‑day option for up to 1.77 million additional shares.
- Shares began trading on the NYSE under ticker BTGO, opening around $22.43, touching an intraday high near $24.50, and closing day one at $18.49, implying a peak valuation of about $2.59 billion during the session.
- On the second trading day, BTGO fell 22% to close at $14.50, sliding below its $18 offer price despite broader indexes finishing slightly higher.
- BitGo received conditional approval in late 2025 to convert to a national trust bank, positioning it to offer federally regulated custody services across the U.S.
- YZi Labs, linked to Changpeng Zhao, disclosed a strategic investment in the IPO as BitGo touted more than $100 billion in assets under custody and a revenue base led by custody and staking services.