A bitcoin fund launched by digital investment services firm NYDIG has raised $719.9 million to date.
NYDIG Institutional Bitcoin Fund LP has raised the funds from a total of 59 investors, according to a filing with the Securities and Exchange Commission. The filing was made on Friday and shows an increase of just over $28 million in investments since the last raise in 2021, when investments reached $691 million.
The fund has one less investor since the 2021 raise, where the filing registered 60 investors.
The fund was first registered with the SEC in 2018, raising $31 million from three investors before raising an additional $54 million from six investors in 2019. NYDIG was valued at over $7 billion last December, with the firm saying at the time that it would use the funds to expand its institutional-grade bitcoin platform including support for Lightning network payments, smart contracts, and asset tokenization.
NYDIG is a subsidiary of Stone which is Stone Ridge Holdings Group, a multi-billion dollar asset management business that also owns Stone Ridge Asset Management LLC.
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