Crypto custody firm BitGo valued at $2.59 billion as shares surge in NYSE debut

Crypto custody firm BitGo valued at $2.59 billion as shares surge in NYSE debut

Jan 22 (Reuters) - Crypto custody firm BitGo was valued at about $2.59 billion ?after its shares opened 24.6% higher ?in their New York Stock Exchange debut on ?Thursday. The stock opened at $22.43 a share, compared with the $18 offer price. BitGo and some of its backers sold 11.8 million ?shares above ?the marketed range of $15 and $17 to raise $212.8 million. The listing comes ?as the crypto IPO window tentatively reopens following tepid activity after the historic U.S. government ?shutdown late last year. No major ?crypto-linked issuer went public in the U.S. in the fourth quarter. Stablecoin issuer Circle, CoinDesk-owner Bullish, blockchain lender Figure, and Winklevoss twins' crypto exchange Gemini went public ?in New York between ?June to September. The ?debut marks the first major test of investor appetite for digital ?asset companies ?in 2026 and could influence whether other crypto firms move ahead with listing ?plans.

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