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BitGo Shares Drop 12% After NYSE Debut, First Crypto IPO of 2026

BitGo’s $2 billion IPO saw a 12% dip in its first day of trading, marking a challenging start for the crypto custodian's public market debut.

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Summary

Shares of BitGo, which debuted on the New York Stock Exchange on Thursday at $18 per share, fell by 12% on Friday, reaching $16.53 at midday. The crypto custodian’s $2 billion IPO is the first new crypto listing of 2026, following a busy 2025 with offerings from Circle, Bullish, and Gemini. The downturn in BitGo’s stock comes amid broader market volatility, with Bitcoin’s price dropping from $95,000 to $90,000 over the past week.

Terms & Concepts
  • IPO (Initial Public Offering): The first time a company’s shares are offered to the public for trading on a stock exchange.
  • Crypto Custodian: A financial service provider that holds and safeguards digital assets for institutional clients, ensuring security and compliance.