BitGo shares fell 12% on the second day of trading on the New York Stock Exchange, underperforming its crypto peers. The stock had traded as high as $24 shortly after the IPO, but was last changing hands at $16.53, which is about 8% below the $18 IPO price. This price action follows recent volatility in the broader crypto market.
BitGo Stock Performance Overview
On its second trading day BitGo showed a notable pullback from the initial pop after listing, closing well below the IPO level despite earlier intraday highs. The company’s stock performance so far includes the $24 intraday peak and the current price reported at $16.53, relative to the $18 IPO price.
Market Context and Comparisons
The move in BitGo’s stock occurred alongside a drop in bitcoin from $95,000 to $90,000, which has influenced sentiment across crypto-linked equities. For background on recent bitcoin moves, see Цена биткоина сегодня for a wider overview of price changes and related stock reactions.
At the same time several other public crypto-related companies were trading higher, contrasting with BitGo’s decline:
- Galaxy Digital (GLXY) up 3%
- Riot Platforms (RIOT) up 3%
- MicroStrategy (MSTR) up 2%
- Hut 8 (HUT) up 7%
BitGo IPO Details
BitGo priced its IPO at $18 per share and the offering valued the company at about $2 billion, making it the first crypto firm to go public in 2026. The initial market interest pushed the stock to an early high of $24 before the subsequent decline on the second trading day.
2025 Crypto IPOs
BitGo’s public debut followed an IPO-heavy 2025 that included several crypto firms. Among last year’s offerings were Circle, Bullish and Gemini, which form the recent precedent for crypto companies listing in public markets.
Why this matters
For miners in Russia, this move does not change the technical fundamentals of running mining hardware, but it matters for market sentiment around crypto service providers and custodians. Company valuations and public-market performance can affect how investors and counterparties view the crypto sector, which in turn may influence business decisions by exchanges and institutional service providers.
Even if your day-to-day operations are local, shifts in investor sentiment can ripple into service availability, custodial pricing or partnerships over time, so it’s useful to note when a major custodian’s stock underperforms while peers rise.
What to do?
- Monitor prices and headlines: keep an eye on both bitcoin price moves and news about custody providers to spot changes relevant to your operation.
- Review counterparty exposure: if you use external custodial or settlement services, check their status and disclosures rather than relying on market moves alone.
- Assess operating margins: compare your electricity and maintenance costs against current BTC price to ensure continued profitability under volatility.
- Secure keys and backups: maintain best practices for key management and cold storage to avoid operational risk regardless of market sentiment.
- Read deeper company information: for a closer look at BitGo’s financial setup and risks, see Финансовая модель BitGo.
