NYDIG Raises $150 Million For Bitcoin Investment Funds

NYDIG raises $150 million for bitcoin investment funds. According to documents filed with the United States Securities and Exchange Commission on 24 November and 1 December, the New York Digital Investment Group generated $150 million from two different cryptocurrency investment funds.

The NYDIG Digital Assets Fund I raised $50 million, while the NYDIG Digital Assets Fund II raised $100 million. Reports say that the money raised by Fund I, which invests solely in Bitcoin (BTC), came from only two undisclosed investors. Meanwhile the larger Fund II is said to have earned its entire $100 million investment from a single investor.

The new funds follow a big year for NYDIG, which announced $50 million in equity growth in October through investments from commercial and investment banks, insurance firms and asset managers. New York Digital Investment Group is a subsidiary of Stone Ridge, a $10 billion asset management giant.

Stone Ridge recently made a Bitcoin investment to the amount of 10,000 BTC. To date, the investment has seen returns of more than $75 million.

There seems to be an evolving trend of large businesses investing in Bitcoin, as business intelligence firm MicroStrategy made a $250 million investment into the number one cryptocurrency back in August. NYDIG CEO Robert Gutmann noticed this trend earlier this year, stating that Bitcoin is transitioning to a “predominantly institutionally-owned asset.” 

[image: Aleksi Raisa]

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