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

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.