BitGo Acquires NYDIG Trading Arm for $42.5M

Crypto company BitGo has acquired NYDIG's Bitcoin-focused institutional trading business for $7 million in cash and approximately $35.5 million in stock.

The deal, which was completed on Thursday, also includes up to $15 million more in cash tied to two revenue milestones.

The purchase brings NYDIG's derivatives, structured products, financing, and capital markets operations to BitGo, along with roughly 30 employees and around 250 institutional client relationships.

BTC's CEO Mike Belshe said institutions want to work with a trusted partner that can support the full lifecycle of digital assets.