According to a recent report, the New York Digital Investment Group (NYDIG) has sold nearly 0 million in a little-known Bitcoin fund. Formally called NYDIG Bitcoin Yield Enhancement Fund LP, it’s described as a pooled investment fund that began selling just last week.Bitcoin Fund Selling 0MPer the report from Forbes, NYDIG, which previously received a BitLicense from the state of New York in 2018, disclosed selling nearly 0 million in the previously unknown fund in a Form D filing for an exemption to the US Securities and Exchange Commission (SEC).The new yield enhancement fund started selling on May 5th, the report added. It was described as a pooled investment fund since multiple investors had participated in the initial capital raise. Thus, NYDIG requested its exemption under
Topics:
Jordan Lyanchev considers the following as important: AA News, btcusd, btcusdt, United States
This could be interesting, too:
Wayne Jones writes dYdX CEO Declares 35% Workforce Reduction
Chayanika Deka writes Former FTX’s Head of Engineering Nishad Singh Dodges Prison
Dimitar Dzhondzhorov writes Bitcoin (BTC) Price to Hit New ATH as Long as It Stays Above This Resistance Zone (Analyst)
Mandy Williams writes Aave Sees 0M Weekly Increase in cbBTC Inflows, But There’s a Catch
According to a recent report, the New York Digital Investment Group (NYDIG) has sold nearly $140 million in a little-known Bitcoin fund. Formally called NYDIG Bitcoin Yield Enhancement Fund LP, it’s described as a pooled investment fund that began selling just last week.
Bitcoin Fund Selling $140M
Per the report from Forbes, NYDIG, which previously received a BitLicense from the state of New York in 2018, disclosed selling nearly $140 million in the previously unknown fund in a Form D filing for an exemption to the US Securities and Exchange Commission (SEC).
The new yield enhancement fund started selling on May 5th, the report added. It was described as a pooled investment fund since multiple investors had participated in the initial capital raise. Thus, NYDIG requested its exemption under Rule 506(b) of the Regulation D safe harbor protections.
The report mentioned the lack of additional information regarding this particular fund. However, an earlier NYDIG investment named the Bitcoin Strategy Fund was advised by Stone Ridge Asset Management LCC. It’s a large New York-based investment management company with ties to Benjamin Lawsky.
Interestingly, Lawsky is perhaps best known in the community for actually establishing the BitLicense framework several years ago. In 2017, the blockchain-based payment protocol Ripple appointed him as a board member – a position he holds until today, according to Ripple’s website.
Traditional Finance And Cryptocurrencies
Another example of both worlds coming together came last week when Canada’s digital asset fund manager, 3iQ Corp, announced that The Bitcoin Fund completed its offering of Class A Units and Class F Units for $11.87 and $11.63, respectively. Thus, the total gross proceeds equaled approximately $48 million.
The Class A Units the company provides are listed and posted for trading on the Toronto Stock Exchange under the symbol QBTC.U.
The prominent traditional investor, Paul Tudor Jones II, said last week that he is buying Bitcoin amid the growing trend amongst world central banks to print excessive amounts of money. He explained that by purchasing BTC, he’s fighting the potential consequences of rising inflation rates.
Later, Jones added that he has “just over 1% of my assets in Bitcoin.” Being a well-known hedge fund manager, his stance regarding the primary cryptocurrency could bring even more attention to the market from institutional investors.