See More

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

1 min
Updated by Kyle Baird
Join our Trading Community on Telegram

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

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.
Top crypto platforms in the US | March 2024
Coinbase Coinbase Explore →
AlgosOne AlgosOne Explore →
Chain GPT Chain GPT Explore →
iTrustCapital iTrustCapital Explore →

Trusted

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

c8d670c5ace3fefdd9c2b09519d3b3c7?s=120&d=mm&r=g
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.
READ FULL BIO
Sponsored
Sponsored