BitGo shares slump well below IPO level on second trading day Shares of crypto custodian BitGo (BTGO) tumbled about 12% midday Friday, slipping sharply on only the company’s second day as a public company and trailing the modest gains seen in other crypto-related stocks. BitGo debuted on the NYSE Thursday after pricing its IPO at $18 per share. The stock briefly popped to $24 on its first day of trading but was last changing hands at $16.53 — roughly 8% below the IPO price and a clear pullback from initial enthusiasm. The weakness comes amid renewed volatility in crypto markets: bitcoin fell from around $95,000 late last week to near $90,000, a move that has left some names pressured while others chip away at losses. Peer tokens and equities have shown a mixed response — Galaxy Digital (GLXY) and Riot Platforms (RIOT) were up about 3% each, MicroStrategy (MSTR) rose roughly 2%, and Hut 8 (HUT) climbed about 7%. BitGo, which provides custody and security services for digital assets, was valued at roughly $2 billion at the time of its offering. Its listing is the first crypto IPO of 2026 following a busy 2025 that saw several industry players go public, including stablecoin issuer Circle (CRCL), digital-asset platform Bullish (BLSH), and exchange Gemini (GEMI). Read more AI-generated news on: undefined/news

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