New York-based digital investor group NYDIG announced that it had received its Oct. 3 report. raised According to filings with U.S. Securities and Exchange Commission. $720 million for institutional bitcoin fund.
There were only 59 investors who contributed. Each investor contributed more than $12,000,000 to the funding on average. This indicates that they were wealthy individuals and companies.
The figure is the highest since December 2020, when institutional investors purchased approximately $1 billion of bitcoin every week.
According to the press release, NYDIG’s bitcoin balances “increased nearly 100% year over year, and revenue rose 130% in the second quarter.”
NYDIG stated that “While Bitcoin continues to trade lower during 2022, the company holds more Bitcoin than ever before.”
The filing stresses that the SEC did not necessarily review the information contained in the filing to determine its accuracy.
NYDIG promotes cooperation between institutional investors. According to the firm’s forecast, institutional investors will have more assets than the firm, which is why many corporate buyers choose NYDIG for their bitcoin investments.
NYDIG, a subsidiary Stone Ride Holdings, is believed to have a long-standing cooperative relationship with traditional financial institutions.
Stone Ridge stated in a September SEC filing that it plans to liquidate the Bitcoin Futures Fund next month. This will be on October 21st. Shares of the fund won’t be available to purchase starting Nov. 3. In preparation for liquidation, the advisor will reduce the Fund’s cash holdings to cash. Cash will be distributed to shareholders as a result of the liquidation.
To fully redeem all shares, the liquidation proceeds will be distributed as soon as possible after the liquidation date.