BitGo priced its initial public offering at $18 a share, valuing the crypto custody firm at about $2 billion ahead of its debut on the New York Stock Exchange under the ticker BTGO.
The listing arrives after a rough stretch for publicly traded crypto companies, with peers like Bullish, Owlting and Gemini Space Station suffering steep share-price declines alongside a broader sector pullback.
Analysts say BitGo’s focus on custody and staking, which generate the bulk of its underlying revenue and more predictable earnings than trading-heavy businesses, could justify a valuation above the IPO price if growth targets are met.
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