Digital asset custodian BitGo (BTG) experienced a sharp rise and then a steep fall in its share price on its first day listed on the New York Stock Exchange.
On Jan. 23 local time, Cointelegraph reported that BitGo opened up 25 percent from its $18 IPO price, but the stock later fell 13.4 percent as profit-taking orders poured in.
Cointelegraph said BitGo's listing, coupled with uncertainty in the cryptocurrency market, is prompting investors to take a cautious approach.
At the IPO price, BitGo was valued at $2 billion. BitGo provides digital asset custody and infrastructure services and currently manages more than $90 billion in assets.
The Financial Times reported that hardware wallet company Ledger is pursuing a U.S. IPO at a valuation of more than $4 billion, and that a possible listing is also being discussed for digital asset exchange Kraken after a $2 billion fundraising.
Chi-gyu Hwang (황치규)
delight@d-today.co.kr