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New York Digital Investment Group Raises $150 Million Via Two Cryptocurrency Investment Funds

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.

NYDIG has raised $150 million for two #Bitcoin investment funds — Cointelegraph (@Cointelegraph) December 2, 2020

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

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