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

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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.

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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]

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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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.

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