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Soros Fund, New York Life, Morgan Stanley Among Investors of $200 Million in Bitcoin Investment Firm
Soros Fund Management, New York Life, and Morgan Stanley have joined Stone Ridge Holdings, Massmutual, FS Investments, and Bessemer Venture Partners to invest in bitcoin-focused investment company NYDIG. They will collaborate on a range of bitcoin-related strategic initiatives, and expect to launch “an explosion of innovation in bitcoin products and services.”
Major Companies Want Bitcoin Exposure
Major corporations and investment heavyweights have invested in the New York Digital Investment Group (NYDIG), a provider of technology and investment solutions for bitcoin, the group announced Monday. According to the announcement:
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Bitcoin-oriented crypto firm NYDIG has applied for a Bitcoin ETF to the US Securities and Exchange Commission (SEC)
News that the New York Digital Investment Group registered for a Bitcoin ETF emerged yesterday. This comes a week after its founder Ross Stevens discussed with MicroStrategy’s Michael Saylor on the possible entry of a lot of institutional funds into the Bitcoin market. The firm, a Bitcoin-centric subsidiary of Stone Ridge Asset Management, joins Valkyrie Digital Assets and Vaneck that have already submitted their bitcoin-based ETF filings.
NYDIG’s Bitcoin ETF registration is a Form S-1 statement that seeks to dispense common shares trade on New York Stock Exchange Arca.