CoinDesk 4d ago
BitGo to Acquire NYDIG Trading Business in Deal Valued Up to $57.5M
Crypto custody firm BitGo has agreed to purchase NYDIG's trading unit for $42.5 million in cash and stock plus potential earnouts.
Digital asset custodian BitGo has entered into an agreement to acquire NYDIG IF Holdings, the trading division of NYDIG, for $42.5 million in cash and equity, alongside a potential $15 million earnout.
The transaction includes $7 million in upfront cash, allowing BitGo to expand its execution services and integrate institutional trading capabilities directly alongside its custody solutions.
This strategic acquisition highlights ongoing consolidation among prime crypto brokers seeking to provide comprehensive, end-to-end institutional financial services.
Key takeaways
- BitGo is acquiring NYDIG's trading division for up to $57.5 million.
- The deal includes $7 million in cash, $35.5 million in stock, and earnout terms.
- Consolidation continues across institutional crypto custody and brokerage firms.