BitGo Scoops Up NYDIG Institutional Trading Business in $57.5M Deal

BitGo has signed a deal to acquire NYDIG's institutional trading business in a move worth up to $57.5 million, expanding its presence in the growing institutional cryptocurrency market.

The agreement includes an initial payment of $42.5 million, consisting of $7 million in cash and approximately $35.5 million in BitGo shares.

NYDIG could receive an additional $15 million in cash if specific revenue milestones are achieved, along with potential additional stock consideration.

This acquisition will significantly broaden BitGo's existing digital asset infrastructure business, allowing it to offer institutional capabilities spanning derivatives, structured products, financing, and other crypto capital markets services.