BitGo Holdings experienced a rollercoaster first day of trading on Thursday. The crypto custodian’s shares opened with strong momentum before giving back most gains.
The stock began trading on the New York Stock Exchange under ticker BTGO at $18 per share. Within hours, shares climbed to an intraday high of $24.50.
That 36% pop didn’t last long. By the closing bell, BTGO had retreated to $18.49, finishing the day up just 2.7%.
Crypto infrastructure entering the public markets.
Congrats to @BitGo on the IPO. This industry belongs on the public stage.
We’ve been there. pic.twitter.com/MYBO8OdGN0
— H.E. Justin Sun
(@justinsuntron) January 22, 2026
After-hours trading showed shares hovering around $18.35. The volatile session left investors questioning the stock’s near-term direction.
The IPO raised $212.8 million for the company. BitGo sold 11.8 million shares at $18 each, pricing above the initial $15-$17 range.
That pricing valued the company at more than $2 billion. The debut marks the first major crypto-related listing of 2026.
Changpeng Zhao’s YZi Labs announced a strategic investment in the IPO. The firm, formerly known as Binance Labs, praised BitGo’s security track record.
YZi Labs head Ella Zhang highlighted the platform’s hack-free record spanning over a decade. “BitGo has maintained a hack-free security record for over a decade, a testament to the technical foundation laid by its inventor and CEO, Mike Belshe,” Zhang stated.
The investment firm emphasized BitGo’s regulated infrastructure as a competitive advantage. With $82 billion in assets on platform, BitGo serves institutional clients across custody, staking, and settlement services.
Founded in 2013, BitGo has grown into one of the largest crypto custodians in the U.S. The company now manages over $100 billion in total assets.
YZi Labs views BitGo as a cornerstone asset in the maturing digital asset industry. The firm committed to providing strategic resources for BitGo’s next growth phase as a public company.
BitGo’s public debut has sparked comparisons with Circle’s IPO performance. Circle went public in June 2025 but has since declined more than 2%.
The comparison has fueled debate over which custody and infrastructure provider will perform better in public markets. BitGo CEO Mike Belshe framed the listing as a milestone for compliant infrastructure.
“As we debut on the NYSE, our mission remains to deliver absolute trust to the digital asset ecosystem,” Belshe said. He described YZi Labs’ backing as a shared commitment to institutional-grade infrastructure.
The timing of BitGo’s listing comes as U.S. regulatory conditions stabilize. In December, BitGo received conditional approval for a U.S. trust bank charter.
Circle and Ripple also received similar approvals. The regulatory green light has opened doors for more crypto firms to pursue traditional banking charters.
Several other crypto companies are weighing IPO plans for later this year. Custody rival Anchorage Digital is reportedly considering a listing.
Exchanges including Kraken and Bitpanda are also exploring public market debuts. Multiple infrastructure firms are evaluating similar moves.
BitGo finished its first trading session with shares at $18.49, maintaining only a modest premium above the offering price after an otherwise turbulent day.
The post BitGo (BTGO) Stock: Volatile NYSE Debut Sees 36% Surge Then Sharp Retreat appeared first on CoinCentral.
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