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New York-Based Asset Manager Closes $190M Round for Bitcoin Institutional Fund
This is NYDIG's second raise for a bitcoin fund this year.
New York Digital Investments Group (NYDIG) raised $190 million from 24 investors for another bitcoin fund.
STORY CONTINUES BELOW
- The round of funding for the NYDIG Institututional Bitcoin Fund was disclosed to the Securities and Exchange Commission (SEC) Tuesday.
- NYDIG started raising for the Bitcoin Fund in 2018, according to the disclosure filing.
- The New York-based asset manager did not disclose the fund's proposed net asset value or any other details.
- Last month, NYDIG raised $140 million for a similar investment vehicle, the Bitcoin Yield Enhancement Fund.
- The asset manager has held a New York BitLicense since 2018.
- Benjamin Lawsky, the former financial regulator who created New York’s BitLicense in 2015, joined NYDIG nearly a year before the bitcoin fund manager applied for, and received, that license.
Paddy Baker
Paddy Baker is a London-based cryptocurrency reporter. He was previously senior journalist at Crypto Briefing.
Paddy holds positions in BTC and ETH, as well as smaller amounts of LTC, ZIL, NEO, BNB and BSV.
