BitGo Acquires NYDIG Institutional Trading Business
Bitcoin (BTC)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that BitGo has completed its acquisition of NYDIG’s institutional trading business and related assets. This move expands the regulated crypto custodian’s capabilities in derivatives, structured products, and financing. The acquired division serves sophisticated investors such as asset managers, hedge funds, and family offices.
Approximately 30 NYDIG employees have joined BitGo along with their existing institutional trading relationships. This integration allows institutions to access a broader range of capital markets services within a single regulated system. BitGo CEO Mike Belshe stated that institutions increasingly seek trusted partners to support the full digital asset lifecycle.
He added that the acquisition is expected to enable the company to serve a broader base of sophisticated clients. Meanwhile, NYDIG will focus its resources on power generation, bitcoin mining, and data center development. BitGo recently secured a VASP license from South Korea’s Financial Intelligence Unit, becoming the first foreign firm to win a direct license there.
Following the announcement, BitGo’s NYSE-listed BTGO stock closed 1.99% higher at $7.16 on Thursday. The stock jumped 0.56% further after market hours, extending 24-hour gains by over 2.50%. Trading volume averaged 2 million amid broader market recovery.
How the market reacted
Whalio's own Binance spot order flow for BTC, measured when this story was written up on 28 August 2026. Not the outlet's figures.
Bitcoin is currently trading at $80,249.58, with a 24-hour buy ratio of 45.2% indicating a near-even split in order flow. The 1-hour buy ratio stands at 41.4%, while the 4-hour ratio is 47.7%, suggesting that short-term buying pressure is slightly weaker than the daily average. Volume Delta for the 24-hour period is -$123,102,218, indicating that sell volume has significantly outweighed buy volume over the last day. In contrast, the 1-hour Volume Delta is -$5,403,491 and the 4-hour is -$7,192,899, showing consistent net selling pressure across all measured timeframes. The Cumulative Volume Delta (CVD) for the 24-hour close is -$97,550,855, confirming that aggressive selling has dominated the session. Despite this net outflow, spot volume remains robust at $1,297,370,375 with nearly 5 million trades executed.
The latest daily buy ratio of 46.7% sits at the 18th percentile of the last 322 days, against a median of 49.2% - weaker buying than most days.
Twenty-four hours later
What BTC did over the 24 hours after the story broke. The market moves for its own reasons; this is what happened, not what the story caused.
Was that an ordinary day?
The same Binance spot measurements for BTC, averaged over the days leading up to the story.
Over the preceding week, the average buy ratio was 51.1%, compared to today's 24-hour ratio of 45.2%, marking a 5.8 percentage point decline in buying dominance. This suggests that today's trading activity is less bullish than the weekly norm. Volume relative to the weekly average is 0.65x, indicating that current trading activity is notably lighter than usual. While the coin saw a 9.9% price increase over eight days, the recent flow data shows a shift toward net selling. The weekly Volume Delta was positive at +$171,556,665, contrasting sharply with today's negative delta, highlighting a reversal in momentum.