BitGo Launches Global Markets Unit Led by Ex-NYDIG Executive Pete Janney

BitGo Holdings has launched BitGo Global Markets, a new institutional trading and financial solutions business led by former NYDIG executive Pete Janney, according to a statement shared exclusively with The Block on Wednesday.

The division consolidates global liquidity, execution, financing, derivatives, and settlement services under one roof. Janney takes charge following BitGo's acquisition of NYDIG's institutional and trading business on Aug. 27 — a deal that brought roughly 30 employees with experience in derivatives, financing, collateral servicing, and structured products into the firm.

Janney joined BitGo initially as head of financial infrastructure and carries a deep background in trading and capital markets.

What does the new division actually offer?

Global Markets folds in several existing and expanded capabilities:

• Global Liquidity Layer: spot trading and large over-the-counter transactions, drawing liquidity from exchanges, market makers, and other counterparties.
• Crypto-backed financing: clients can borrow against their crypto holdings to fund trading positions, with BitGo keeping collateral in qualified custody, monitoring margins, and handling collateral calls or liquidations when needed.
• Derivatives: options, swaps, and custom structured products for eligible counterparties to hedge exposure, express market views, and manage portfolio risk.
• Managed strategies: investment strategies, private funds, and research.
• Clearing and settlement: handled through BitGo's Go Network.

BitGo has offered institutional trading through BitGo Prime since 2020. That business now sits inside Global Markets alongside the derivatives, collateral management, and structured finance capabilities acquired from NYDIG.

Why the consolidation matters

For BitGo, the move pushes the firm beyond pure custody infrastructure into full-stack capital markets services — a segment where institutions increasingly want integrated trading, financing, and risk management from a single counterparty rather than stitched-together vendors.

"BitGo has built a strong foundation across custody, liquidity, trading, financing, and settlement," CEO Mike Belshe said in the statement. "Global Markets brings these capabilities together with deeper capital markets expertise, allowing us to support more complex institutional strategies and serve a broader range of our clients' financial needs."

Belshe added: "Pete understands how institutions trade and manage risk, and I'm excited to have him leading Global Markets."

Janney framed the launch around client demand for more than passive exposure. "Clients who own digital assets need sophisticated solutions that go beyond buy and hold," he said. "I look forward to accelerating that work and growing the Global Markets franchise at BitGo."

Market reaction and what comes next

BTGO shares rose 3.4% in pre-market trading on Wednesday, according to TradingView, building on a 3.7% gain on Tuesday.

The operational buildout now falls to Janney and the roughly 30 NYDIG veterans who crossed over. Their first task: integrate prime brokerage-style financing, qualified custody, and derivatives execution into a single workflow, and convince institutions that BitGo can compete with established Wall Street crypto desks on complexity, not just custody security.