Odaily News YZi Labs officially announced on X that it has participated in the strategic investment placement for BitGo's (NYSE:BTGO) IPO, betting on "critical infrastructure" such as compliant custody.
Odaily News: Cryptocurrency custody firm BitGo Holdings began trading on the New York Stock Exchange on Thursday, with its stock price experiencing significant volatility on its first day. The company's Class A shares (BTGO) surged rapidly after opening, climbing as much as 36% intraday to $24.50, but subsequently gave back most of those gains.
BitGo's IPO was priced at $18 per share, raising approximately $213 million and giving the company an overall valuation exceeding $2 billion. At the close, BTGO was trading at $18.49, up about 2.7% for the day. In after-hours trading, the stock retreated to around $18.35, essentially returning to near its IPO price.
Market observers noted that the sharp volatility on BitGo's debut reflects both high investor interest and divergent expectations for crypto infrastructure companies. Meanwhile, its peers such as Anchorage Digital and Kraken have also reportedly been evaluating the possibility of launching their own IPOs this year.
Odaily News BitGo announced the completion of a $213 million IPO financing, with shares priced at $18 each, exceeding the previously guided range of $15 to $17. A total of 118,000 shares were sold in this offering. The company's primary business is providing infrastructure services such as digital asset custody, trading, and settlement.
BitGo completed its listing on Nasdaq on January 22, 2026, becoming the first digital asset company to go public that year. BitGo achieved profitability in 2024 and the first three quarters of 2025, with revenue streams including digital asset trading, blockchain staking rewards, and service fees. Influenced by this, projects like Grayscale and Kraken, which plan to go public within the year, are closely monitoring its market performance. Meanwhile, construction equipment rental company EquipmentShare also plans to list on Nasdaq this Friday, aiming to raise $747 million.
