BitGo has agreed to acquire NYDIG's institutional trading business and related assets, adding derivatives, structured products, financing and other capital-markets services to its custody, settlement and wallet infrastructure.

Roughly 250 institutional client relationships and about 30 NYDIG employees are expected to move to BitGo. Terms were not disclosed. The purchase deepens BitGo's push beyond custody into trading and capital markets, just as activity picks up after a prolonged crypto trading slowdown, making the deal one of the first clear signs of a rebound.

BitGo, founded in 2013 and based in Sioux Falls, South Dakota, is one of the earliest institutional crypto custodians and went public earlier this year. For NYDIG, a Stone Ridge affiliate long known for its Bitcoin-native approach, the sale marks a strategic narrowing of focus.

The move continues a wave of consolidation in institutional crypto infrastructure, as custody, trading and prime-services providers bundle capabilities to win the larger allocators returning to the market.

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