Stone Ridge Calls Its $114M in Bitcoin 'Primary Treasury Reserve Asset'; NYDIG Unit Raises $50M

NYDIG raised the $50 million from FinTech Collective, Bessemer Ventures and Ribbit Capital.

By Danny Nelson

Oct 13, 2020 at 3:19 p.m. UTC

Updated Sep 14, 2021 at 10:08 a.m. UTC

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Stone Ridge Holdings Group is stashing 10,000 BTC with the institutional asset manager's crypto subsidiary NYDIG, which on Tuesday announced it raised an additional $50 million in funding.

The private firm called bitcoin its new "primary treasury reserve asset" in a statement shared with CoinDesk. That language was first adopted by publicly traded MicroStrategy.
VC fund FinTech Collective led the NYDIG raise with participation from Bessemer Ventures and Ribbit Capital, Forbes reported.
NYDIG is one of a handful of companies to wield New York state's BitLicense. It maintains a series of multi-million dollar crypto funds and offers prime brokerage and custody services to institutional clients.

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