BitGo Buys NYDIG's Institutional Trading Arm to Beef Up Derivatives and Financing
BitGo acquired NYDIG’s institutional trading business, expanding into derivatives, financing, structured products, and capital-markets services for professional crypto clients. The deal, completed after a definitive agreement, brings in about 30 employees and the unit’s institutional relationships. Total consideration is about $42.5 million, consisting of $7 million in cash and roughly $35.5 million in BitGo stock, plus earnouts and retention awards tied to revenue milestones. The acquisition supports BitGo’s push to offer institutions custody, trading, financing, and settlement through one platform, alongside its regulated custody, settlement, and wallet infrastructure. For NYDIG, the sale allows greater focus on power generation, Bitcoin mining, and high-performance computing data centers, where it sees the strongest growth potential. The transaction follows a busy year for BitGo, including its NYSE debut, staff cuts, and expansion into stablecoins.
