BitGo experienced significant fluctuations on its first day of trading on the New York Stock Exchange, with its stock price rising by 36% before retreating

Cryptocurrency custody company BitGo Holdings went public on the New York Stock Exchange on Thursday, with its stock price experiencing significant volatility on the first day of trading. The company's Class A shares (BTGO) surged quickly after the opening, soaring 36% to $24.50 at one point during the day, but subsequently gave back much of the gains. BitGo's IPO was priced at $18 per share, raising approximately $213 million, with an overall company valuation exceeding $2 billion. By the close, BTGO was at $18.49, up about 2.7% for the day; in after-hours trading, the stock price fell back to around $18.35, essentially returning to the offering price.

Market participants noted that the significant volatility on BitGo's first day of trading reflects investors' heightened attention and divergent expectations regarding cryptocurrency infrastructure companies. Meanwhile, its peers, such as Anchorage Digital and Kraken, have also been reported to be evaluating the possibility of launching IPOs this year.