NYDIG Raises $50M for Seventh Digital Asset Fund

A single investor backed NYDIG’s seventh fund dedicated to cryptocurrency investments.

AccessTimeIconNov 30, 2021 at 4:20 p.m. UTC
Updated May 11, 2023 at 6:02 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Bitcoin investment firm NYDIG raised $50 million for its seventh fund to invest in cryptocurrencies, the firm said in a regulatory filing.

  • NYDIG opened the fund on Nov. 16 and a single investor contributed the full amount. The firm plans to leave the fund open indefinitely.
  • NYDIG launched its first digital asset funds late last year when the NYDIG Digital Assets Fund I raised $50 million and the NYDIG Digital Assets Fund II raised $100 million from institutional investors. Fund I invested entirely in bitcoin, but it’s not clear if that’s the case for the latest fund.
  • The NYDIG funds tend to attract investors with deep pockets. The first digital asset fund included two backers and the second had one investor.
  • NYDIG, a subsidiary of Stone Ride Holdings, has longstanding ties with traditional financial institutions. Earlier this year, NYDIG partnered with NCR to make crypto purchases available to 650 banks and financial institutions. U.S. Bank recently introduced a cryptocurrency custody program with NYDIG as its backer.
  • Crypto fund launches have accelerated this year as digital asset prices rally. Earlier this month, Paradigm, the firm from Coinbase co-founder Fred Ehrsam and former Sequoia partner Matt Huang, announced a $2.5 billion fund, the largest ever in the crypto industry.
  • Why Sequoia Capital Is Raising $600M to Launch New Crypto Fund
    06:39
    Why Sequoia Capital Is Raising $600M to Launch New Crypto Fund
  • Twitter Joined $20M Funding Round for Bitcoin Payments Provider OpenNode
    06:14
    Twitter Joined $20M Funding Round for Bitcoin Payments Provider OpenNode
  • Twitter Joined $20M Funding Round for Bitcoin Payments Provider OpenNode
    06:14
    Twitter Joined $20M Funding Round for Bitcoin Payments Provider OpenNode
  • Polygon Raises $450M to Build Web 3 Applications, Invest in Zero-knowledge Tech
    06:55
    Polygon Raises $450M to Build Web 3 Applications, Invest in Zero-knowledge Tech
  • Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Brandy Betz

    Brandy covered crypto-related venture capital deals for CoinDesk.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.



    Read more about