BitGo, the digital asset infrastructure company offering custody, trading, staking, financing and settlement services from regulated cold storage, has entered into a definitive agreement and completed the purchase of the institutional trading business and related assets of NYDIG.
The deal sees BitGo take on NYDIG’s institutional trading operations, freeing NYDIG to concentrate on its vertically integrated power generation, bitcoin mining and high-performance computing data centre development business, which has a development pipeline of more than 3 GW, with over 1 GW due to be delivered in 2027 and 2028.
The purchase is set to broaden BitGo’s institutional markets platform by strengthening its financing and derivatives capabilities, adding to its current trading services and working alongside its regulated custody, settlement and wallet infrastructure.
BitGo said the move should reinforce its standing as a full-service digital asset infrastructure provider, giving institutions access to a wider set of trading and capital markets services through one integrated platform. Around 30 NYDIG staff have moved across to BitGo as part of the deal, bringing with them NYDIG’s institutional client trading relationships.
BitGo pointed to the acquisition as evidence of rising institutional appetite for combined digital asset infrastructure spanning custody, trading, financing, settlement and capital markets under a single regulated roof.
BitGo also expects the acquisition and the resulting broader product range to strengthen the stickiness of client assets held on its platform.
BitGo CEO and co-founder Mike Belshe said, “Institutions increasingly want to work with a trusted partner that can support the full lifecycle of digital assets – from custody and trading to financing and settlement.
“We believe this transaction will meaningfully scale our trading and infrastructure capabilities and adds an exceptional team with experience serving institutional clients. It is also expected to enable us to serve a broader base of sophisticated clients that we believe will benefit from BitGo’s comprehensive infrastructure offerings. We are excited to deliver a more integrated experience for clients while creating efficiencies across technology, operations, and compliance.”
NYDIG CEO Tejas Shah said, “Our team built NYDIG’s institutional trading business into something exceptional: proven execution expertise with derivatives and financing capabilities.
“That business is complementary to BitGo’s digital asset infrastructure, and we look forward to a seamless transition for our clients and our colleagues, some of the most talented people in this market. The discipline and intensity that built our trading franchise also drives our HPC data center development business, where we see one of the most significant opportunities ahead.”
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