NYDIG Raises $720 Million For Its Bitcoin Institutional Fund

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Fundraising; Photo Source: TechMoran

The company said in a press release, “NYDIG's Bitcoin balances hit all-time highs in Q3, up almost 100% year-over-year...”

New York Digital Investment Group (NYDIG) has been making moves toward investing in its institutional fund. A filing was done with the US Securities and Exchange Commission (SEC) on September 29. According to the filing, NYDIG has generated $720 million for its Institutional Bitcoin Fund. 

A total of 59 investors joined the NYDIG funding round. It is estimated that each investor contributed an average of over $12 million to the fund. From this estimation, these are certainly high-networth individuals or corporate and institutional investors.  

The filing warns readers that the information may not be reviewed by SEC. Hence, the data should not be seen as complete or accurate. 

NYDIG is a leading provider of technology and investment solutions for Bitcoin. The investment company is also a subsidiary of Stone Ridge. 

This company has created successful firms in the world of technology and finance. It has also created more than $13 billion in alternative asset managers.

NYDIG has been experiencing some major success lately.

In a press release by the investment company, 

“NYDIG's Bitcoin balances hit all-time highs in Q3, up almost 100% year-over-year, and revenue is up 130% through Q2, with another increase when the firm closes its books on Q3. Building on this momentum.”

The company also announced its appointment of a new CEO and President. Earlier today, NYDIG stated that Tejah Shah and Nate Conrad would take up the CEO and President positions. 

To continue the company's success, Shah and Conrad will focus on accelerating NYDIG’s investment in its leading mining solutions franchise. 

This franchise serves the largest North American miners. Also, it helps banking and non-banking enterprises utilize the Lightning Network for next-generation wallets and global payments.

The former CEO and President, Robert Gutmann, and Yan Zhao will remain in Stone Ridge Holdings. They co-founded the parent company in 2012 with Ross Stevens.

Written by
Chiagoziem Bede Ikwueze

The company said in a press release, “NYDIG's Bitcoin balances hit all-time highs in Q3, up almost 100% year-over-year...”

New York Digital Investment Group (NYDIG) has been making moves toward investing in its institutional fund. A filing was done with the US Securities and Exchange Commission (SEC) on September 29. According to the filing, NYDIG has generated $720 million for its Institutional Bitcoin Fund. 

A total of 59 investors joined the NYDIG funding round. It is estimated that each investor contributed an average of over $12 million to the fund. From this estimation, these are certainly high-networth individuals or corporate and institutional investors.  

The filing warns readers that the information may not be reviewed by SEC. Hence, the data should not be seen as complete or accurate. 

NYDIG is a leading provider of technology and investment solutions for Bitcoin. The investment company is also a subsidiary of Stone Ridge. 

This company has created successful firms in the world of technology and finance. It has also created more than $13 billion in alternative asset managers.

NYDIG has been experiencing some major success lately.

In a press release by the investment company, 

“NYDIG's Bitcoin balances hit all-time highs in Q3, up almost 100% year-over-year, and revenue is up 130% through Q2, with another increase when the firm closes its books on Q3. Building on this momentum.”

The company also announced its appointment of a new CEO and President. Earlier today, NYDIG stated that Tejah Shah and Nate Conrad would take up the CEO and President positions. 

To continue the company's success, Shah and Conrad will focus on accelerating NYDIG’s investment in its leading mining solutions franchise. 

This franchise serves the largest North American miners. Also, it helps banking and non-banking enterprises utilize the Lightning Network for next-generation wallets and global payments.

The former CEO and President, Robert Gutmann, and Yan Zhao will remain in Stone Ridge Holdings. They co-founded the parent company in 2012 with Ross Stevens.

Written by
Chiagoziem Bede Ikwueze