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Finance

New York-Based Asset Manager Closes $190M Round for Bitcoin Institutional Fund

This is NYDIG's second raise for a bitcoin fund this year.

By Paddy Baker
AccessTimeIconJul 1, 2020 at 10:47 a.m. UTC
Updated May 9, 2023 at 3:09 a.m. UTC
(Shutterstock)
(Shutterstock)

New York Digital Investments Group (NYDIG) raised $190 million from 24 investors for another bitcoin fund.

  • The round of funding for the NYDIG Institututional Bitcoin Fund was disclosed to the Securities and Exchange Commission (SEC) Tuesday.
  • NYDIG started raising for the Bitcoin Fund in 2018, according to the disclosure filing.
  • The New York-based asset manager did not disclose the fund's proposed net asset value or any other details.
  • Last month, NYDIG raised $140 million for a similar investment vehicle, the Bitcoin Yield Enhancement Fund.
  • The asset manager has held a New York BitLicense since 2018.
  • Benjamin Lawsky, the former financial regulator who created New York’s BitLicense in 2015, joined NYDIG nearly a year before the bitcoin fund manager applied for, and received, that license.
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