BitGo's $1B+ Acquisition Strengthens Its Institutional Trading Position
BitGo has acquired NYDIG's institutional trading unit, bringing on board around 30 employees and their derivatives and finance operation. This deal enables BitGo to become one of the largest regulated custodians in the crypto sector with a pre-existing derivatives desk.
The acquisition highlights the ongoing trend of banks and funds consolidating their digital asset activities with fewer infrastructure partners. Institutions are increasingly seeking custody, trading, financing, and settlement services under a single regulated umbrella.
According to BitGo's CEO Mike Belshe, institutions want to work with a trusted partner that can support the full lifecycle of digital assets.
BitGo has seen significant growth since its debut on the NYSE in January 2026, with revenue increasing by 79.6% year-on-year and a customer base rising by 26.2%. However, the company recorded a net loss of $19 million due to an unrealized loss from digital assets.