BitGo buys NYDIG trading unit as crypto trading rebounds
BitGo adds derivatives, financing, and 250 institutional client relationships from NYDIG as bitcoin tops $80,000 and trading activity picks up after months of low volume.
BitGo has agreed to buy the institutional trading business and related assets of NYDIG, CNBC reported. The deal adds derivatives, structured products, financing, and other capital markets services to BitGo's existing custody, settlement, and wallet infrastructure.
Around 30 employees from NYDIG and 250 institutional client relationships will join BitGo, according to a person familiar with the transaction. Terms of the deal were not disclosed.
BitGo went public earlier this year, is based in Sioux Falls, South Dakota, and has a market value below $1 billion. Founded in 2013, the firm is one of the earliest custodians in institutional crypto, with a reputation for security and serving large clients.
The acquisition comes as crypto markets show signs of life after a prolonged trading slump. Bitcoin has risen more than 20% over the past week, briefly topping $80,000 on Tuesday, following months of weak volume and tepid investor interest.
NYDIG's institutional trading business serves asset managers, hedge funds, corporations, and family offices, with a focus on derivatives, financing, and custom trading strategies.
The deal signals how crypto infrastructure firms are positioning for a recovery from the 2026 downturn, shifting focus from crypto as a standalone asset class toward building services for institutions.
BitGo CEO Mike Belshe is scheduled to appear on CNBC's "Squawk Box" on Friday.
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