<p>Cryptocurrency bank Silvergate listed its shares on the New York Stock Exchange Thursday, pricing a dollar below the expected range at $12. </p> <p>As part of the initial public offering, the firm <a href="https://www.nasdaq.com/articles/banking-on-crypto%3A-silvergate-capital-prices-downsized-ipo-below-the-range-at-%2412-2019-11">raised</a> $40 million by offering 3,333,333 shares. With the offer price of $12, Silvergate market capitalization stands at $229 million. On Thursday trading went live, with the first trade priced at $12.75, a 6.3% surge from its offer price. </p> <p>The crypto bank had planned to raise $52 million through the sale of 3.7 million shares, according to its <a href="https://www.theblockresearch.com/silvergate-bank-3q19-update-ipo-terms-proposed-deposits-decline-11-45328">earlier filing</a>. The shares are listed on the NYSE under the ticker symbol "SI."</p> <p>Based in California, Silvergate is known as one of the few crypto-friendly banks. According to the filing, the firm currently serves 756 digital currency-related firms as of June 2019. To date, it has total deposits of $1.8 billion and total assets of $2.1 billion, per the company statement. </p>