BitGo Acquires NYDIG's Institutional Trading Business
BitGo has acquired the institutional trading arm of NYDIG, enhancing its offerings in derivatives, financing, and capital markets for professional clients. The deal includes approximately $42.5 million in total consideration—$7 million cash and about $35.5 million in BitGo stock—and involves around 30 employees from NYDIG's unit along with existing client relationships. The acquisition is intended to strengthen BitGo’s trading platform, complementing its regulated custody, settlement, and wallet infrastructure services. CEO Mike Belshe emphasized the growing demand among institutions for a single provider handling all aspects of digital assets—from custody through financing and settlement—highlighting this as part of BitGo's broader strategy. For NYDIG, the sale allows it to focus on power generation, Bitcoin mining, and high-performance computing data centers. The company cited an over $3 gigawatt development pipeline in these areas.
Topics: crypto derivatives digital assets institutional trading