Crypto Crash Weighs on US IPOs as Candidates Push Out Timing

Returns from new US listings have waned considerably this quarter and the crypto crash has made recent IPOs in the sector among the biggest casualties, creating a higher bar for companies such as Grayscale Investments Inc. and BitGo Holdings Inc. to go public in the near future.

Shares of US IPOs raising more than $50 million, excluding vehicles such as closed-end funds and blank checks, have fallen an average of 5.3% this quarter, compared to the S&P 500 Index which is up 0.9%. Of those, the five crypto companies that have gone public this year are down an average of ...