Bitcoin

NYDIG Buys $720 Million Worth Of Bitcoin

According to a filing with the Securities and Exchange Commission (SEC), NYDIG has raised $720 million for its Institutional Bitcoin Fund.

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NYDIG, a leading provider of technology and investment solutions for Bitcoin, recently filed with the U.S. Securities and Exchange Commission, the Institutional Bitcoin Fund has raised $720 million in funding.

NYDIG’s fund includes a total of 59 investors who participated, and it is estimated that each investor has allocated an average of more than $12 million to the fund. This size also suggests that investors in the funds are large-scale individual investors or corporate and institutional investors.

NYDIG is a subsidiary of Stone Ridge, a holding company that has led the creation of forward-thinking firms across the world of technology and finance, including a more than $13 billion alternative asset manager.

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Built on this stable foundation, NYDIG delivers Bitcoin products across industries, from banking and insurance to fintech and nonprofits. The company fuses stringent regulatory standards with ironclad technology to make Bitcoin universal.

At the time of writing, BTC is trading at $19,172.

BTC daily chart. Source: CoinCu

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.