NYDIG has raised $150 million through two separate Bitcoin investment funds, according to documents filed with the US SEC.
December 2, 2020 | AtoZ Markets – Asset management company New York Digital Investment Group (NYDIG) has raised $150 million in two institution-focused new bitcoin funds.
As evidenced by the reporting for the US Securities and Exchange Commission (SEC), $50 million was sent to NYDIG Digital Assets Fund I, while $100 million was sent to NYDIG Digital Assets Fund II.
Both are launched in the form of a pooled investment fund, which involves the participation of several investors. This made it easier to raise funds under Rule 506 (c) of Regulation D, which does not require SEC registration.
While two investors contributed $50 million to NYDIG Digital Assets Fund I, the entire $100 million investment in NYDIG Digital Assets Fund II was formed by one large client.
Other sources have said that the first fund investment is exclusively in the flagship cryptocurrency. However, information on the strategy of the second bitcoin fund is not available at the time of publication.
It is worthy of note, that in July, NYDIG raised $105 million in NYDIG Institutional Bitcoin Fund.
Galaxy Digital will launch a new Bitcoin fund in Canada
As Bitcoin prices continue to spike and mark new annual highs, Bitcoin’s proponents have been increasing exposure to the digital asset. Mike Novogratz’s Galaxy Digital cryptocurrency bank in collaboration with investment company CI Global Asset Management will launch a Bitcoin fund in Canada.
Moreover, the investment firm Wilshire Phoenix has filed an S-1 registration statement with the US SEC for a publicly-traded Bitcoin fund similar to the Grayscale Bitcoin Trust in line with regulation.
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