BitGo has acquired NYDIG's institutional trading business, adding derivatives, structured products and financing services to its custody and settlement platform.
The deal brings approximately 30 NYDIG employees and 250 institutional client relationships to BitGo. Financial terms were not disclosed. NYDIG's trading business serves asset managers, hedge funds, corporations and family offices, with focus on derivatives, financing and customized strategies.
The timing reflects measurable recovery in crypto trading volume. Bitcoin rose more than 20 percent over the past week, briefly exceeding $80,000 on Tuesday, after months of weak volume and limited institutional participation.
BitGo, founded in 2013, went public at the start of the year. The Sioux Falls-based company had a market value below $1 billion at the time of the transaction.
The acquisition consolidates custody, settlement and capital markets services under one operator. For institutions seeking counterparty exposure to crypto markets alongside direct custody—a structural necessity in digital asset trading—this integrated model reduces operational friction and counterparty count.
