BitGo has closed a roughly $42.5M deal to absorb NYDIG’s institutional trading business, bolting derivatives, financing and capital markets services onto its custody platform.
A regulatory filing shows the two-step merger paying $7M in cash and about $35.5M in BitGo stock. Earnouts add a $10M cash payment tied to a revenue milestone, up to $5M more in cash plus shares on a second milestone, and retention awards for the roughly 30 NYDIG staff moving across with their client relationships.
The unit serves asset managers, hedge funds, corporates and family offices, complementing BitGo’s regulated custody, settlement and wallet infrastructure.
NYDIG, for its part, keeps the capital-intensive side of the business: power generation, bitcoin mining and high-performance computing data center development, a pipeline exceeding 3 gigawatts with more than 1GW due in 2027 and 2028.
“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 BitGo chief executive Mike Belshe.
The move lands as institutional crypto trading rebounds and custodians compete to serve professional clients under one regulated roof.
