NYDIG Launched BTC Fund Raises Almost $17 Million

NYDIG Bitcoin Fund has raised roughly $17 million from investors.

According to a Securities and Exchange Commission application dated September 17, NYDIG Bitcoin Fund LP, which made its initial sale in July 2019, has raised $16.95 million from 121 investors. Sales totaled $4.95 million in the previous report, which was issued in October.

An agreement announced in August between NYDIG and a broker-dealer firm owned by insurance agency MassMutual may have raised at least a portion of the whole sum.

The company declared that qualifying clients will have access to the fund, which is an innovative and effective way to invest in Bitcoin (BTC), through chosen MML financial experts.

The broker-dealer MMLIS is mentioned in the most recent filing for NYDIG Bitcoin Fund LP, which claims that for every customer it recommends to the issuer, it will collect certain placement and servicing charges.

In December 2020, MassMutual purchased $100 million in Bitcoin (BTC). The insurance firm is also a shareholder in NYDIG.

Also read: South Korea’s Ultimatum: Next Week Operation Suspension of 60 Crypto Exchanges is Expected

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