BitGo Acquires Bitcoin Miner NYDIG’s Institutional Trading Business, BTGO Stock Jumps

BitGo announced today that it has completed the acquisition of bitcoin miner NYDIG’s institutional trading business and related assets. This acquisition strengthens the crypto custodian’s position as a comprehensive platform for digital assets. As a result, BTGO stock price jumped more than 2%.

Bitgo Completes Acquisition of NYDIG Institutional Trading Business

Crypto custodian BitGo entered a definitive agreement to acquire NYDIG institutional trading business, according to an official announcement. This expanded the regulated crypto custodian’s derivatives, structured products, and financing capabilities.

Notably, NYDIG’s institutional trading business serves asset managers, hedge funds, corporates, family offices, and other sophisticated institutional investors. This strengthens BitGo’s position as a comprehensive digital asset infrastructure company.

It gives institutions access to a broader range of trading and capital markets services in a single integrated and regulated system.

With the transaction, around 30 NYDIG employees have joined BitGo, along with their institutional trading relationships. NYDIG’s institutional trading business provides derivatives, structured products, financing, and capital markets solutions.