NYDIG Raises $ 150 Million From Institutions To Invest In …

NYDIG Raises $ 150 Million From Institutions To Invest In Cryptocurrencies

New York Digital Investments Group (NYDIG) raised $ 150 million for launch two new cryptocurrency funds, CoinDesk reports with reference to reporting, filed with the Securities Commission and exchanges USA. NYDIG Digital Assets Fund I attracted $ 50 million, and NYDIG Digital Assets Fund II – $ 100 million.

A source familiar with the situation said that Fund I will be invest exclusively in bitcoin. By him words, the offer is aimed at a growing number of institutional investors, willing take a long position on the first cryptocurrency. How the second fund will distribute its assets is unclear.

It is noteworthy that the entire amount for bitcoin fund provided Total two unnamed investors. In the $ 100 million fund, presumably, there was one investor.

NYDIG was formed $ 10 billion manager assets Stone Ridge Asset Management in 2017 to serve institutional investors in the market cryptocurrencies. IN this year NYDIG has revealed information about its two largest funds: Bitcoin Fund LP with $ 190 million and Bitcoin Yield Enhancement Fund LP with $ 140 million.

In an October publication, NYDIG declined to disclose information about clients, but stated, that the positions of some of them surpass her own by $ 115 million in bitcoin. Since those since the size of these assets increased to $ 191 million along with the.

“We observe enough a tangible increase in the number of institutional investors willing to participate in this market, since March this year. The decline in the macroeconomic context amid adverse health events resulted in to that, that many people started rethink the composition their portfolios “, – said then in company.

NYDIG Raises $ 150 Million From Institutions To Invest In ...