Bitcoin

NYDIG raises $ 150 million for two bitcoin mutual funds

The New York Digital Investment Group has raised $ 150 million through two separate cryptocurrency mutual fundsas filed with the US Securities and Exchange Commission on November 24th and December 1st.

NYDIG Digital Assets Fund I raised $ 50 million while NYDIG Digital Assets Fund II raised $ 100 million.

Fund I, which invests exclusively in Bitcoin (BTC), reportedly came from just two anonymous investors. The largest Fund II is now said to have received its total investment of US $ 100 million from a single investor.

NYDIG raises $ 150 million for two bitcoin mutual funds
NYDIG raises $ 150 million for two bitcoin mutual funds

The new financing comes after a great year for NYDIG, which announced in October capital growth of $ 50 million from injections from commercial and investment banks, insurance companies and asset managers.

New York Digital Investment Group is a subsidiary of Stone Ridge, a $ 10 billion wealth management giant.

As Cointelegraph reported, Stone Ridge recently made its own investment in Bitcoin worth 10,000 BTC. To date, that investment has raised more than $ 75 million.

There seems to be a growing trend for big companies to invest in Bitcoin, as business intelligence firm MicroStrategy invested $ 250 million in the number one cryptocurrency in August.. Robert Gutmann, CEO of NYDIG, noticed this trend earlier this year and stated that Bitcoin is transitioning to a “predominantly institutionally owned asset”.

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