Transaction Expected to Enhance Derivatives and Financing Capabilities and Strengthen BitGo’s Existing Institutional Trading Platform

BitGo Holdings, Inc., the digital asset infrastructure company, announced that it has entered into a definitive agreement and completed the acquisition of the institutional trading business and related assets of NYDIG. The transaction expands BitGo’s institutional service offering and allows NYDIG to focus its resources on its vertically integrated power generation, bitcoin mining, and high-performance computing data center development business, with a development pipeline exceeding 3 GW and more than 1 GW deliverable in 2027 and 2028.

BitGo’s acquisition of NYDIG’s institutional trading business is expected to expand its institutional markets platform by enhancing financing capabilities and derivatives intended to enhance the Company’s existing trading offerings while complementing BitGo’s regulated custody, settlement, and wallet infrastructure. The transaction is expected to further strengthen BitGo’s position as a comprehensive digital asset infrastructure company, enabling institutions to access a broader range of trading and capital markets services through an integrated platform. As part of the transaction, approximately 30 NYDIG employees joined BitGo, along with NYDIG’s institutional client trading relationships. The acquisition reflects growing institutional demand for integrated digital asset infrastructure that combines custody, trading, financing, settlement, and capital market services within a single regulated platform.

The acquisition and expanded product offering are expected to bolster and enhance the stickiness of client assets on platform (“AOP”).

“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,” said Mike Belshe, CEO and Co-founder of BitGo. “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’s institutional trading business provides derivatives, structured products, financing, and capital markets solutions to a sophisticated client base. The team has built longstanding expertise working with asset managers, hedge funds, corporates, family offices, and other market participants that demand liquidity, tailored risk management, and customized trading strategies. The acquisition brings this experienced team and client franchise to BitGo, expanding its institutional markets platform and strengthening its ability to serve sophisticated clients globally.

“BitGo has built one of the industry’s most trusted and comprehensive digital asset infrastructure platforms, and we are excited for our institutional trading clients to gain access to that scale and breadth of capability,” said Pete Janney, Head of Financial Infrastructure at BitGo. “This transaction allows our team to continue delivering the same innovative solutions, execution quality, and dedication clients have come to expect, now backed by an even deeper set of resources. We look forward to a smooth transition and to the opportunities this creates for our clients.”

“Our team built NYDIG’s institutional trading business into something exceptional: proven execution expertise with derivatives and financing capabilities,” said Tejas Shah, CEO of NYDIG. “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.”

Source: BitGo