BitGo Acquires NYDIG Institutional Trading Business to Expand Derivatives, Financial Services

Digital-asset infrastructure firm BitGo has acquired NYDIG's institutional trading business, expanding its derivatives and financial services offerings as it pushes deeper into the institutional digital-asset market.

BitGo said Aug. 27 it had completed the acquisition of NYDIG's institutional trading business and related assets. Financial terms were not disclosed.

The deal adds NYDIG's derivatives, structured products, financing and capital-markets solutions to BitGo's existing institutional platform. BitGo plans to combine those capabilities with its custody, settlement and wallet infrastructure to offer institutional clients a broader range of digital-asset services.

About 30 NYDIG employees and the unit's institutional client relationships also moved to BitGo as part of the transaction. NYDIG's institutional trading business has provided liquidity, risk management and customized trading strategies to asset managers, hedge funds, corporations and family offices.

BitGo co-founder and Chief Executive Officer Mike Belshe said institutions want a trusted partner that can support the full digital-asset lifecycle, from custody and trading to financing and payments. The acquisition will broaden BitGo's trading and infrastructure capabilities and help it serve a wider range of institutional clients.

NYDIG will use the deal to focus on power generation, Bitcoin mining and high-performance computing, or HPC, data-center development. Its data-center development pipeline exceeds 3 gigawatts, with more than 1 gigawatt projected to be available in 2027 and 2028.

NYDIG Chief Executive Officer Tejas Shah said the institutional trading business has developed strengths in derivatives and financing and should generate strong synergies with BitGo's digital-asset infrastructure.