BitGo acquires NYDIG’s institutional trading business in bid to become crypto’s one-stop shop

BitGo just swallowed one of the more quietly influential institutional trading operations in crypto. The digital asset custody firm completed its acquisition of NYDIG’s institutional trading business on August 27, absorbing the company’s derivatives, structured products, financing, and capital markets capabilities in a single transaction.

Around 30 employees from NYDIG’s trading unit moved over to BitGo as part of the deal, along with the institutional client relationships they managed. Financial terms were not disclosed.

What BitGo is building

BitGo, which trades on the NYSE under the ticker BTGO after raising roughly $213 million in an IPO earlier in 2026, has been on a mission to become the infrastructure layer that institutional investors can’t avoid. The company already offered custody, settlement, wallet, and trading services. Adding NYDIG’s trading desk fills in the gaps that remained: derivatives, structured products, and financing.

BitGo CEO Mike Belshe framed the acquisition as a response to what institutions have been asking for. According to Belshe, the deal reflects growing institutional demand for a comprehensive, trusted partner that can facilitate every aspect of the digital asset lifecycle, from custody to trading and financing.

NYDIG’s pivot to power

The other half of this story is what NYDIG plans to do with the bandwidth it just freed up. The company is redirecting its strategic focus toward power generation and computing infrastructure, specifically bitcoin mining and high-performance computing data centers.

NYDIG’s development pipeline exceeds 3 gigawatts of capacity. To put that in context, 3 GW is enough electricity to power roughly 2.3 million homes. The company expects over 1 GW of that capacity to become operational between 2027 and 2028.

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