BLOOMBERG NEWSNew York Digital Investment Group (NYDIG) today disclosed it has sold nearly $140 million in a previously unknown bitcoin fund. Formally called the NYDIG Bitcoin Yield Enhancement Fund LP, the fund began selling just a week ago, on May 5, according to the documents. Stone Ridge was founded in 2012 to provide investors with alternative risk exposures in reinsurance, volatility, and alternative lending. In December 2019, the SEC approved the NYDIG Bitcoin Strategy Fund, a portfolio fund in the Stone Ridge Trust VI, for cash-settled bitcoin futures contracts advised by Stone Ridge. At the time of publication, it is unclear whether or not Stone Ridge is also advising the newly revealed fund.

Source: Forbes May 12, 2020 20:36 UTC