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Big news for Bitcoin: NYDIG raises $200M from Stone Ridge, Soros Fund, Morgan Stanley, et al.

  • NYDIG has received a $200 million growth capital round, which it intends to use to further drive institutional adoption of Bitcoin.
  • The company now manages more than $1 billion in Bitcoin for life, pension, and property insurers.

New York Digital Investment Group (NYDIG) today announced a $200 million growth capital round. The technology and investment solutions provider for institutional Bitcoin investors received the capital from strategic partners Stone Ridge Holdings Group, Morgan Stanley, New York Life, MassMutual, Soros Fund Management and FS Investments.

In addition, the two lead partners from the previous funding round, Bessemer Venture Partners and FinTech Collective, “also played a significant role.” Robert Gutmann, co-founder and CEO of NYDIG, said:

The firms participating in this round are more than investors – they are partners, each well known to us for years. NYDIG will be working with these firms on Bitcoin-related strategic initiatives spanning investment management, insurance, banking, clean energy, and philanthropy.

These partnerships leave no doubt that institutional adoption of Bitcoin has arrived and, further, that NYDIG is the partner of choice for serious financial services firms with the highest fiduciary and diligence standards. In the months and quarters ahead, look out for an explosion of innovation in Bitcoin products and services delivered by NYDIG, in partnership with our new investors.

As part of the announcement, NYDIG also announced today that life, annuity and property & casualty now collectively “own more than $1 billion of direct and indirect bitcoin exposure facilitated exclusively by NYDIG, and held on NYDIG’s secure, audited, and insured institutional custody platform”.

Ross Stevens, Founder and Executive Chairman of NYDIG, continued:

I am thrilled by what this group of incredible investors will mean for NYDIG, but especially for Bitcoin.

About Author

Jake Simmons

Jake Simmons has been a crypto enthusiast since 2016, and since hearing about Bitcoin and blockchain technology, he's been involved with the subject every day. Beyond cryptocurrencies, Jake studied computer science and worked for 2 years for a startup in the blockchain sector. At CNF he is responsible for technical issues. His goal is to make the world aware of cryptocurrencies in a simple and understandable way.

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