BitGo stock gains 25% in opening trades on NYSE as investors bet on the 'plumbing' of the crypto world

2026-01-22 21:42:50

Source: CryptoNewsNet Original Title: BitGo stock gains 25% in opening trades on NYSE as investors bet on the ‘plumbing’ of the crypto world Original Link: Crypto custodian BitGo (BTGO) began trading on the New York Stock Exchange today, opening at $22.43 per share after pricing its IPO at $18 late Wednesday, marking one of the first big-ticket crypto firms to go public this year.

The offering valued the company at around $2 billion — well below other recent crypto listings, such as stablecoin issuer Circle (CRCL), which debuted at nearly $7 billion last year.

BitGo provides custody and security services for digital assets, primarily catering to institutional clients and has quietly become a key part of the crypto market’s back-end infrastructure. The firm is the custodian for several spot crypto exchange-traded funds (ETFs).

The IPO marks one of the first times public equity investors can get direct exposure to crypto infrastructure, making BitGo the bridge between traditional finance and digital assets. This comes at a time when traditional finance is increasingly dipping into the digital asset space — not by trading bitcoin, but by offering clients secure, regulated access to the infrastructure.

BTC-0,39%

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