Aug. 28 at 2:15 AM
BitGo has agreed to acquire NYDIG’s institutional trading business and related assets, strengthening its position in institutional crypto markets. The deal will add derivatives, structured products, financing and other capital-markets services to BitGo’s existing custody, settlement and wallet infrastructure. Around 30 NYDIG employees and 250 institutional client relationships are expected to join BitGo, although financial terms were not disclosed.
The acquisition comes as crypto trading begins to rebound after a prolonged slowdown. Bitcoin has gained more than 20% over the past week and briefly topped
$80,000, signaling renewed investor activity following months of weak volumes. NYDIG’s trading business serves asset managers, hedge funds, corporations, family offices and other institutions, focusing on derivatives, financing and customized strategies.
$BTGO