• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Changelly
  • Price table

Crypto News PRO

From the world all news

  • Home
  • News

Asset Manager NYDIG Raises $5M for Third Bitcoin Fund in 2020

Written by:
Aeon Flux
Published on:
13 August 2020
Thoughts:
No comments yet

Aug 12, 2020 at 09:32 UTCUpdated Aug 12, 2020 at 13:45 UTC

brandon-jacoby-ab-w3gen18q-unsplash

New York City’s Financial District (Brandon Jacoby/Unsplash)

New York Digital Investments Group (NYDIG) has raised just under $5 million for yet another bitcoin investment vehicle.

  • The Manhattan-based asset manager informed the Securities and Exchange Commission (SEC) Monday it had raised funds for its new NYDIG Bitcoin Fund in a private placement.
  • Per its Form D filing, 56 investors have now committed to the fund but NYDIG has not disclosed the fund’s net asset value.
  • The Bitcoin Fund, which will allocate combined commits into a series of investments, launched in July 2019 with six investors who invested a total of $1.45 million at the time.
  • The $5 million is just the initial raise and the fund is still open to additional commits.
  • The SEC counts private placements as exempt offerings as securities aren’t publicly available and are generally only sold to accredited investors.
  • NYDIG has held a New York BitLicense since 2018. Benjamin Lawsky, the BitLicense’s architect, joined the company nearly a year before.
  • Monday’s raise will be the third securities offering NYDIG has held this year.
  • The asset manager raised $190 million for a similarly named NYDIG Institutional Bitcoin Fund LP in July, and $140 million for a Bitcoin Yield Enhancement Fund the month before.
  • It’s unclear what differentiates the funds from one another.

See also: Standard Chartered to Launch Institutional Crypto Custody Solution

Read more about…

Bitcoin FundsNYDIGCoinFlash

Disclosure

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Categories: News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Search in the news

Translate:

Earn up to 5% every 10 days with Aeon Flux Coins

Categories

  • Bitcoin (1,361)
  • Ethereum (850)
  • News (2,433)

Recent Posts

  • Bitwise Files Crypto ETF Application 10 February 2021
  • DNA — how can you monetise the new gold? 10 February 2021
  • Post-Pandemic World: What Will Happen? 10 February 2021
  • How realistic is a worldwide Bitcoin ban? 10 February 2021
  • Ledger To Add Defi Support For Mobile Users By Their Ledger Live Mobile App 10 February 2021

Archives

  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020

© 2015-2020 Crypto News PRO
All Rights Reserved. Powered by IWG Agenzia Web