New York Digital Investment Group Raises $150 Million Via Two Cryptocurrency Investment Funds
New York Digital Investment Group Raises $150 Million Via Two Cryptocurrency Investment Funds
December 4, 2020
New York Digital Investment Group Raises $150 Million Via Two Cryptocurrency Investment Funds
New York Digital Investment Group Raises $150 Million Via Two Cryptocurrency Investment Funds
December 4, 2020

The United States Securities and Exchange Commission stated that New York Digital Investment Group (NYDIG), a subsidiary of Stone Ridge, a $10 billion asset management giant, has raised $150 million through two separate cryptocurrency investment funds.

It has been reported that the NYDIG Digital Assets Fund I raised $50 million, while the NYDIG Digital Assets Fund II raised $100 million.

However, reports suggest that the money raised by Fund I, which invests purely in Bitcoin (BTC), came from just two unnamed investors. The larger Fund II is reputed to have received 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. 

Likewise, Stone Ridge recently made a Bitcoin investment of its own to the tune of 10,000 BTC, as the investment has seen gains of over $75 million.

It has been analyzed that there seems to be a growing 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.

Thus, Robert Gutmann, the CEO of NYDIG, noticed this trend earlier this year by stating that Bitcoin is transitioning to a “predominantly institutionally-owned asset.” 

Source: Cointelegraph


ALSO READ :  Twitter Analytics Data Indicates Social Media Interest In The Digital Currency Sets New Records
Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.