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

Share Article
In Brief
  • A Bitcoin fund with close ties to Wall Street has been revealed.

  • The NYDIG fund has been selling Bitcoin since May 5.

  • Recent developments point to greater interest in Bitcoin from Wall Street.

  • promo

    Free Cloud Mining Providers to Mine Bitcoin in 2021

The Trust Project is an international consortium of news organizations building standards of transparency.

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.

Sponsored



Sponsored

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

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.

Sponsored



Sponsored

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.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.
Sponsored
Share Article

A former professional gambler, Rick first found Bitcoin in 2013 whilst researching alternative payment methods to use at online casinos. After transitioning to writing full-time in 2016, he put a growing passion for Bitcoin to work for him. He has since written for a number of digital asset publications.

Follow Author

Crypto predictions with the Best Telegram Signal with +70% accuracy!

Join now

Token which expects a significant increase in price

Read now

Market signals, studies and analysis! Join our Telegram Today!

Go