BitGo to buy NYDIG’s institutional trading business, source says

• The acquisition adds about 30 NYDIG employees and 250 institutional client relationships to BitGo's operations
• BitGo will expand its service offerings to include derivatives, structured products, financing, and other capital markets services alongside its existing custody and wallet infrastructure
• BitGo went public earlier in 2025, raising approximately $213 million in its IPO, and is one of the largest crypto custody firms in the United States

Summary

Transaction Overview:

BitGo has agreed to acquire NYDIG's institutional trading business in a move to expand its trading infrastructure capabilities. The deal will transfer approximately 30 NYDIG employees and 250 institutional client relationships to BitGo.

Key Companies & Background:

• BitGo: A leading U.S. crypto custodian founded in 2013, which completed an IPO earlier this year, raising approximately $213 million
• NYDIG: Operates an institutional trading unit specializing in financing and derivatives for institutional investors and family offices

Strategic Implications:

The acquisition will broaden BitGo's service offerings beyond its core custody, settlement, and wallet infrastructure. New capabilities will include:

• Derivatives trading
• Structured products
• Financing services
• Additional capital markets services

Market Context:

The deal comes as cryptocurrencies gain mainstream acceptance, bolstered by the Trump administration's favorable regulatory stance toward digital assets. This supportive environment has created opportunities for crypto infrastructure providers to expand and consolidate.

Business Impact:

For BitGo, the transaction represents a strategic expansion into institutional trading services, positioning the company to offer a more comprehensive suite of products to its client base. The acquisition of 250 institutional relationships provides immediate scale in the institutional trading segment, while the addition of derivatives and financing capabilities enhances BitGo's competitive position in the evolving crypto infrastructure market.

Financial terms of the deal were not disclosed. The transaction underscores ongoing consolidation in the crypto services sector as companies seek to build full-service platforms for institutional clients.