BitGo Raises Over $212M in NYSE IPO; Stock Falls Below IPO Price on Second Day

BitGo completed its U.S. initial public offering on the New York Stock Exchange under the ticker BTGO, pricing shares at $18 and raising over $212 million, in a deal that valued the company at roughly $2.08 billion, according to the filing and coverage of the offering ^[1][4]. The company reported holding 2,369 BTC and presented projections that imply about 26% annual revenue growth through 2028 in its IPO materials ^[1].

After a strong market debut, BitGo's shares fell nearly 22% on the second day of trading, closing below the $18 IPO price, marking a significant pullback from the offering level ^[2][3]. Coverage noted BitGo's role in industry developments such as launching Wrapped Bitcoin and highlighted that other crypto firms, including Kraken, are preparing public offerings, adding competitive context to the listing ^[2].

The IPO provided BitGo with fresh capital and a public valuation, but early trading volatility pushed the stock below the offering price within two days, reflecting immediate market reassessment following the listing ^[1][2].