BitGo Acquires NYDIG Trading Arm to Expand Institutional Crypto Services

BitGo has completed its acquisition of NYDIG's institutional trading business, absorbing roughly 30 employees and inheriting client relationships across derivatives, structured products, financing, and capital markets services. The deal, announced Thursday, brings asset managers, hedge funds, and corporate clients under BitGo's umbrella, though neither company disclosed the financial terms.

BitGo CEO Mike Belshe said the transaction will "meaningfully scale" the firm's trading and infrastructure capabilities, broadening its reach across institutional crypto markets. Pete Janney, who led NYDIG's financial infrastructure unit and now heads that function at BitGo, emphasized continuity for clients: "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."

For NYDIG, the divestiture sharpens its focus on core operations, including power generation, Bitcoin mining, and high-performance computing data centers. The company disclosed a development pipeline exceeding 3 gigawatts, with more than 1 GW of capacity expected to come online in 2027 and 2028.

The acquisition comes against a mixed financial backdrop for BitGo, which reported a $19 million Q2 loss despite an 80% revenue surge to $4.3 billion. The addition of NYDIG's trading desk is positioned to deepen BitGo's institutional revenue streams at a time when competition for institutional crypto clients is intensifying across Wall Street and digital-native firms alike.