Firm Raises $50M, Parent Buys $115M In Crypto

By Andrew Karpan (October 13, 2020, 9:06 PM EDT) -- The firm behind what has been described as the first Bitcoin-focused fund in the futures market said Tuesday that it raised $50 million the same day its parent company announced a $115 million bitcoin investment, a move the company touts as one of the largest bitcoin asset commitments to date.

NYDIG, a subsidiary of the New York-based Stone Ridge Asset Management, says the new money comes as the firm has quadrupled the number of its clients over the past year. NYDIG says that it manages over $1 billion in aggregated assets.

"As Bitcoin transitions to a predominantly institutionally owned asset, NYDIG is...

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