BitGo acquires NYDIG's institutional trading business for $7M cash and $35.5M stock, including derivatives and structured products operations with 250 institutional clients.
Ecosystem ·
BitGo has closed its purchase of NYDIG's institutional trading operations for $7 million in cash and roughly $35.5 million in stock, with an additional $15 million in cash potentially due based on revenue milestones. The transaction includes NYDIG's derivatives, structured products, financing, and capital markets units, along with approximately 30 staff members and 250 institutional client accounts that transfer to BitGo's custody platform.
The deal shifts NYDIG's strategic direction toward power infrastructure and Bitcoin mining, with a development pipeline exceeding 3 gigawatts and over 1 gigawatt expected to be operational in 2027 and 2028. BitGo's CEO highlighted institutional appetite for integrated digital asset services, pointing to tokenized equity initiatives from established financial firms as evidence of broader adoption momentum.
The transaction included retention arrangements targeting $5 million split between stock and cash for staff, as well as additional earn-out shares granted to NYDIG on the second revenue milestone. Both parties have disclosed the terms through regulatory filings, though broader market implications—including effects on competitive positioning in institutional digital asset trading—remain to be assessed as integration proceeds.