NYDIG Bitcoin Funds Nearly $1 Billion – Trustnodes

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NYDIG, a subsidiary of Stone Ridge Asset Management, has sold nearly $1 billion worth of bitcoins through its many funds.

The biggest by far is the NYDIG Institutional Digital Asset Fund. This has grown by more than $30 million over the past three months to total $753 million.

The FS NYDIG Select Bitcoin fund is up $7 million since April to hit $133 million on Friday.

Then there is the NYDIG Private Bitcoin Fund. This is being offered by JP Morgan to its high net worth clients, seeing small moves – just $200,000 from a new investor since August – to $31.56 million.

Other funds that have seen some movement include a $2 million addition since August by FS NYDIG Bitcoin Fund I at $24.56 million.

The NYDIG Private Bitcoin Cayman Fund, also offered by JP Morgan, rose $1 million to $13.37 million.

And the NYDIG Bitcoin Fund saw a raise from $200,000 by two investors to nearly $20 million.

This brings the total to $975 million invested in all these funds with an increase of $40 million, mostly in the last three months.

NYDIG only offers bitcoin through its funds. Some of the major global banks, including Wells Fargo, Morgan Stanley, and JP Morgan, provide access to these funds for their high net worth clients, as they are unable to offer bitcoins directly.

This billion dollar sum makes NYDIG one of the biggest managers of bitcoins. They started in 2017, but the institutional fund was only released on October 26, 2018.

All the others are much newer, with most starting September 1, 2021, while the Select fund launched in April 2021.

Offers from JP Morgan and other banks therefore coincided with the top of the bull market.

Now that we may be emerging from the peak of the bear market, this new and little-used infrastructure may provide easier access to bitcoin, and only bitcoin so far. Thus potentially allowing new gains on the previous all-time high.

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