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Laxman Pai, Opalesque Asia: Asset management company New York Digital Investments Group (NYDIG) has raised $150 million for two of its cryptocurrency funds, bringing more institutions to the digital currency economy.
According to a US Securities and Exchange Commission (SEC) filing, $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.
A report by CoinDesk revealed that Fund I invests entirely in bitcoin (BTC). The source said it is NYDIG's latest offering for a growing lineup of institutional clients going long on BTC. It was not immediately clear whether Fund II also invests solely in the market-leading cryptocurrency.
The crypto fund manager operates multiple funds and received hundreds of millions from investors, becoming one of the largest Bitcoin fund managers, said the company.
"But more intriguing than the size of the two new NYDIG offerings are the identity of the whales who bought in. Just two unnamed investors appear to have participated in NYDIG's $50 million bitcoin fund, while it seems its larger brother got all its cash from just one," said the report.
The new proceeds came in only months after NYDIG revealed that it received $190 million for another Bitcoin ...................... To view our full article Click here
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