New York Digital Funding Group has raised $150 million via two separate cryptocurrency funding funds, in response to paperwork filed with america S
New York Digital Funding Group has raised $150 million via two separate cryptocurrency funding funds, in response to paperwork filed with america Securities and Alternate Fee on Nov. 24 and Dec. 1.
The NYDIG Digital Belongings Fund I raised $50 million, with the NYDIG Digital Belongings Fund II elevating an extra $100 million.
Reviews recommend that the cash raised by Fund I, which invests purely in Bitcoin (BTC), got here from simply two unnamed traders. In the meantime, the bigger Fund II is reputed to have obtained its total $100 million funding from a single investor.
The brand new funds observe a giant 12 months for NYDIG, which introduced $50 million in fairness progress in October via investments from business and funding banks, insurance coverage companies, and asset managers.
New York Digital Funding Group is a subsidiary of Stone Ridge, a $10 billion asset administration big.
As Cointelegraph reported, Stone Ridge just lately made a Bitcoin funding of its personal to the tune of 10,00zero BTC. Up to now that funding has seen positive factors of over $75 million.
There appears to be a rising pattern of enormous companies investing in Bitcoin, as enterprise intelligence agency MicroStrategy made a $250 million funding into the primary cryptocurrency again in August. NYDIG CEO Robert Gutmann seen this pattern earlier this 12 months, stating that Bitcoin is transitioning to a “predominantly institutionally-owned asset.”