BitGo Debuts on NYSE With $18 Shares, $2B Valuation
BitGo launched its initial public offering on the New York Stock Exchange, pricing its Class A common stock at $18 per share, above the anticipated range. The company offered over 111 million shares, raising up to $213 million and reaching a nearly $2 billion valuation, up from $1.75 billion in 2023. This IPO comes amid similar moves by other major crypto firms over the past year. BitGo’s U.S. listing is part of a trend among international companies seeking long-term access to capital and credibility with global institutions. The move is expected to boost investor confidence, especially among MENA region financial institutions that value strong governance and regulatory frameworks. The IPO coincides with ongoing debate in Washington over crypto regulation, particularly around stablecoin yields and market structure. Meanwhile, BitGo obtained operational licenses in the EU and Dubai, resulting in increased engagement from regulated financial entities. The company emphasizes that regulatory clarity on custody, investor protection, and oversight is essential for institutional adoption and alignment with global financial standards.
