Shares of BitGo opened nearly 25% higher in the crypto-infrastructure firm’s New York Stock Exchange debut, marking the first major test for digital-asset company IPOs since the sector’s market downturn late last year.
BitGo’s initial public offering was priced Wednesday at $18 a share, above the expected range and giving the firm a valuation of more than $2 billion. The company and its shareholders raised $212.8 million by selling about 11.8 million shares. Its shares, which trade under the ticker symbol BTGO, opened at $22.43.