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Wall Street-Linked Firm Unveils Bitcoin Fund Worth $140 Million

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Written by
Rick D.

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Edited by
Kyle Baird

15 May 2020 12:20 UTC
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According to a Form-D filing with the US Securities and Exchange Commission, the New York Digital Investment Group has sold almost $140 million in its NYDIG Bitcoin Yield Enhancement Fund LP. The pooled investment Bitcoin fund was previously unknown to the public but was awarded a BitLicense in 2018.

The documents, reported by Forbes, show that the NYDIG fund has been selling since May 5. [Forbes]

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The fund has been linked with Ben Lawsky, known as the ‘Sheriff of Wall Street’ for fining financial institutions to the tune of $6 billion during his stint as NY State’s superintendent of financial services.

Also connected with the fund is the co-founder of Stone Ridge Asset Management, Robert Gutman.

The news coincides with JPMorgan opening bank accounts for Coinbase and Gemini — showing increased interest from traditional finance in the Bitcoin industry.

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