BitGo shares dropped below their IPO price on the second day of trading, a rough market debut for the crypto custody firm. CEO Mike Belshe addressed the slide on Bloomberg Markets, framing short-term volatility as irrelevant to the company's core mission.

Belshe positioned BitGo as a global digital-asset infrastructure provider, deliberately distinguishing it from crypto wallet services or treasury plays. This strategic clarity aims to reassure investors and partners about its long-term role in institutional crypto markets.

The public listing follows a period of intense scrutiny for crypto firms. BitGo's performance will be a key benchmark for investor appetite toward regulated crypto infrastructure as the sector matures and faces evolving regulatory pressures.