Share this article
Institutional Bitcoin Shop NYDIG Raises $150M for Twin Crypto Funds
New York Digital Investments Group raised $150 million for two new funds to invest in cryptocurrencies, according to SEC filings.
By Danny Nelson
Updated Sep 14, 2021, 10:37 a.m. Published Dec 2, 2020, 5:01 a.m.
New York Digital Investments Group (NYDIG) raised $150 million for two new funds to invest in cryptocurrencies, a move that underscores the one-stop crypto shop's skyrocketing clout on the institutional bitcoin scene.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
As revealed in two U.S. Securities and Exchange Commission filings, NYDIG Digital Assets Fund I raised $50 million from institutional investors while NYDIG Digital Assets Fund II raised $100 million.
A source familiar with the matter confirmed to CoinDesk that Fund I invests entirely in bitcoin. The source said it is NYDIG's latest offering for a growing lineup of institutional clients going long on BTC.
It was not immediately clear whether Fund II also invests solely in the market-leading cryptocurrency.
But more intriguing than the size of the two new NYDIG offerings are the identity of the whales who bought in. Just two unnamed investors appear to have participated in NYDIG's $50 million bitcoin fund, while it seems its larger brother got all its cash from just one.
The funds capture the extent to which deep-pocketed players are powering the 2020 bull run. Corporations making the crypto their treasury reserve, storied investors pumping their bags on CNBC and institutions piling in have combined to push BTC to new all-time highs.
That crypto-forward institutional investors would flock to NYDIG should be no surprise to those familiar with the space. NYDIG was spun out of $10 billion Stone Ridge Asset Management in 2017 with a mission to court institutional cryptocurrency newcomers. It quickly hired BitLicense architect Benjamin Lawsky and secured $50 million in funding to build out the team.
See also: Fund Manager Got NY BitLicense 11 Months After Hiring Its Architect
NYDIG raised an additional $50 million in growth equity in October. It now offers custody, execution, investment and prime brokerage services to hedge funds, pensions, banks and other high-dollar clients.
The two funds continue NYDIG's recent trend of registering its crypto offerings as Rule 506(c) investment vehicles. Essentially, that means NYDIG can advertise the funds to a wider audience.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Asia Morning Briefing: Data shows legacy media took a more balanced view of bitcoin in 2025
Media attention shifted from bitcoin’s environmental footprint to crime and kidnapping in 2025, while overall sentiment remained broadly neutral, according to crypto intelligence platform Perception.
What to know:
- In 2025, mainstream media coverage of Bitcoin became more balanced, with neutral reporting surpassing negative stories.
- The shift in narrative was driven by the exhaustion of earlier critiques rather than increased enthusiasm for Bitcoin.
- AI emerged as the dominant topic in media, overshadowing Bitcoin and driving more significant sentiment swings.
Top Stories
