BitGo acquires NYDIG trading arm for $42.5M

BitGo is acquiring NYDIG IF Holdings, the trading arm of NYDIG, in a deal worth $42.5 million plus a possible $15 million earnout. The price breaks down to $7 million in cash and around $35.5 million in stock.

The acquisition extends BitGo's trading capabilities as it continues expanding its institutional digital asset business, which recently secured a South Korea virtual asset license through its locally registered entity.