BitGo Holdings, Inc. (BTGO) saw its stock soar 24.66% during intraday trading on Thursday. The digital-asset infrastructure company commenced trading on the New York Stock Exchange, with its share price experiencing a significant jump from its initial public offering price.

The surge follows BitGo's IPO, which was priced at $18 per share, above the marketed range of $15 to $17. The offering raised approximately $213 million and valued the company at over $2 billion. Early indications prior to the market open had suggested the stock would debut significantly higher, pointing to robust investor appetite for the first major IPO of the year.

BitGo, a provider of cryptocurrency custody, wallet, and trading services, has attracted attention due to its profitability and recent regulatory milestone of becoming a federally chartered digital asset trust bank. Despite broader uncertainty in the cryptocurrency market, strong demand for the IPO, led by underwriters Goldman Sachs and Citigroup, has fueled the stock's powerful opening performance.