BitGo to acquire NYDIG’s institutional trading business as crypto trading rebounds
BitGo is expanding its institutional capabilities just as activity in the crypto market is showing signs of picking up after a prolonged trading slump.
TL;DR
- BitGo is acquiring NYDIG's institutional trading business and related assets.
- The acquisition will add derivatives, structured products, financing, and capital markets services to BitGo's existing infrastructure.
- Around 30 NYDIG employees and 250 institutional client relationships will transfer to BitGo.
- This move is seen as a sign of a broader rebound in crypto trading after a period of slowdown.
- BitGo, founded in 2013, is an established player in institutional crypto custody and infrastructure.
- NYDIG's institutional trading business serves asset managers, hedge funds, corporations, and family offices.