Management Company New York Digital Investment Group (NYDIG) has raised $150 million in two institution-oriented new bitcoin funds.
According to reports for the US Securities and Exchange Commission (SEC), $50 million was allocated to NYDIG Digital Assets Fund I and $100 million to NYDIG Digital Assets Fund II.
Both of them are launched in the form of a joint investment fund, which involves several investors’ participation. This made it easier to raise funds in accordance with rule 506 (c) of regulation “D,” which does not require registration with the SEC.
The $50 million contributions to NYDIG Digital Assets Fund came from two investors. One major client formed the entire $100 million investment in NYDIG Digital Assets Fund II.
Coindesk sources said that the first fund invests exclusively in the first cryptocurrency. Information about the strategy of the second bitcoin Fund is not available at the time of publication.
NYDIG is associated with Ben Loski, the Creator of the New York state virtual currency license (BitLicense).
From 2011 to 2015, he served as Director of the New York financial services Authority (NYDFS), leaving this post shortly after the launch of BitLicense. Then he was suspected of a conflict of interest because of his work in a consulting company named after him, which helped cryptocurrency companies interact with the regulator.
In 2017, Loski joined the Board of Directors of Ripple, where he began to oversee the payment platform’s promotion and the XRP token.
Recall that in October, amid the growing interest of institutional investors in the cryptocurrency, NYDIG received $50 million in funding. The company also acquired and deposited 10,000 BTC (~$114 million at the exchange rate at that time) for its parent company, Stone Ridge Holdings Group.