NYDIG Secures $190 Million for a Bitcoin Fund
- The fund manager has become one of the largest institutional investors in Bitcoin.
The New York Digital Investments Group (NYDIG) has raised $190 million for one of its Bitcoin funds, the company revealed on its latest Form D filing with the US Securities and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Commission.
Dubbed the NYDIG Institutional Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Fund LP, the fund has 24 unnamed investors and was initially registered with the regulator in 2018. Originally, the Bitcoin fund raised $31 million from 3 investors, and later in 2019 6 more investors joined to contribute $54 million.
NYDIG grabbed headlines in May for closing another $140 million fund called the Bitcoin Yield Enhancement Fund.
The fund managers did not make it clear if the $190 million funds are new or the previous one was renamed, but if different, NYDIG with at least $330 million in the capital will become one of the largest institutional investors in Bitcoin.
Betting big on Bitcoin
NYDIG also operates another Bitcoin fund called the NYDIG Bitcoin Strategy Fund. It is a portfolio fund in the Stone Ridge Trust VI and invests in CME Group’s cash-settled Bitcoin futures contracts. Though the currency size of the fund is unknown, it attempted to raise $25 million last December.
The fund manager did not furnish any details on the working of the fund in the regulatory filing or through other public channels.
NYDIG is a holder of the notorious BitLicense from the New York State Department of Financial Services (NYDFS), making it a regulated entity in the state. The fund is registered as a limited purpose trust charter.
Notably, Benjamin Lawsky, the former financial regulator who created the BitLicense in 2015, joined the fund manager last year, NYDIG received the tough state license 11 months after his joining.
Recently, 3iQ, Canadian crypto fund manager, completed a $10 million offering in its Bitcoin Fund, showing aggressive institutional interest in digital assets.
The New York Digital Investments Group (NYDIG) has raised $190 million for one of its Bitcoin funds, the company revealed on its latest Form D filing with the US Securities and Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term Commission.
Dubbed the NYDIG Institutional Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Fund LP, the fund has 24 unnamed investors and was initially registered with the regulator in 2018. Originally, the Bitcoin fund raised $31 million from 3 investors, and later in 2019 6 more investors joined to contribute $54 million.
NYDIG grabbed headlines in May for closing another $140 million fund called the Bitcoin Yield Enhancement Fund.
The fund managers did not make it clear if the $190 million funds are new or the previous one was renamed, but if different, NYDIG with at least $330 million in the capital will become one of the largest institutional investors in Bitcoin.
Betting big on Bitcoin
NYDIG also operates another Bitcoin fund called the NYDIG Bitcoin Strategy Fund. It is a portfolio fund in the Stone Ridge Trust VI and invests in CME Group’s cash-settled Bitcoin futures contracts. Though the currency size of the fund is unknown, it attempted to raise $25 million last December.
The fund manager did not furnish any details on the working of the fund in the regulatory filing or through other public channels.
NYDIG is a holder of the notorious BitLicense from the New York State Department of Financial Services (NYDFS), making it a regulated entity in the state. The fund is registered as a limited purpose trust charter.
Notably, Benjamin Lawsky, the former financial regulator who created the BitLicense in 2015, joined the fund manager last year, NYDIG received the tough state license 11 months after his joining.
Recently, 3iQ, Canadian crypto fund manager, completed a $10 million offering in its Bitcoin Fund, showing aggressive institutional interest in digital assets.