BitGo Buys Institutional Trading Business as Crypto Infrastructure Shifts

BitGo has acquired NYDIG's institutional trading business as part of its expansion into the cryptocurrency market. The deal, which was announced on August 27, 2026, adds derivatives, structured products, financing, and capital-markets services to BitGo's existing custody and settlement business. This acquisition allows BitGo to offer a more comprehensive platform for institutions, including asset managers, hedge funds, corporates, family offices, and other market participants.

The deal is significant because it shows that institutions want a single trusted partner for the full lifecycle of digital assets, from custody and trading to financing and settlement. This is in contrast to the earlier approach of separating custody and trading services, which added costs and delays.

BitGo's CEO, Mike Belshe, said that institutions increasingly want one trusted partner for the full lifecycle of digital assets. This is reflected in the company's acquisition of NYDIG's institutional trading business and related assets.

The deal also highlights the shift in focus from trading fees to infrastructure and energy-linked compute capabilities. NYDIG is stepping away from institutional trading to focus on vertically integrated power generation, bitcoin mining, and high-performance computing data center development. The company's development pipeline exceeds 3 gigawatts, with more than 1 gigawatt deliverable in 2027 and 2028.