Bitcoin had arrived.

“These partnerships get out 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,” said Gutmann, calculation: “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.”

NYDIG as well announced on Monday that among life, annuity, and property and casualty insurers who employ its platform, over $ane billion worth of Bitcoin investments are now held in its institutional custody service.

The founder and executive chairman of NYDIG, Ross Stevens, said the latest round of funding from institutional investors was good for the visitor and BTC.


If you are excited about the team’s mission of bringing free and open money to all, and want to join the team, visit nydig.com/careers for more information.

About NYDIG

NYDIG is a bitcoin company powering a more inclusive economic system. Delivering technology and financial services to businesses in a broad range of industries, its full-stack bitcoin platform is built to the highest security, regulatory, and operational standards.

NYDIG is the gateway to a new era of financial products that make bitcoin more accessible for all. Learn more at nydig.com, or connect on LinkedIn and Twitter.

About WestCap

WestCap is a growth equity firm founded by Laurence A.

Tosi, who, together with the WestCap team, has founded, capitalized, and operated tech-enabled, asset-light marketplaces for over 20 years.

Further adding credence to the theory of a potential bull trap, a trend strength indicator very clearly shows that bears are in charge, […]Billionaire Investor Tim Draper Still Believes Bitcoin Will Hit $250,000 By End Of 2022 – Benzinga

Billionaire venture capitalist Tim Draper still believes Bitcoin (CRYPTO: BTC) will hit $250,000 by the end of next year or early 2023 despite the recent downturn.


Bitcoin Is ‘Not Money’, Says Bank of England’s Andrew Bailey – Decrypt

The UK central bank boss continues to bash Bitcoin—but has his eye on stablecoins.

Bitcoin Price Above $40K, Ethereum Price Above $2600, Is Bull Run Resumed? – CoinPedia

Bitcoin Price May Hit $50,000 Soon Bitcoin price after multiple rejections at $40,000, successfully ranged above these levels and held an upper hand above $41,000.

Bitcoin custody and trading services provider NYDIG has filed to create a bitcoin exchange-traded fund, public filings show.

NYDIG’s S-1 filing, published Tuesday, represents the latest salvo in a years-long cumulative effort to win approval for such a product by U.S. regulators. To date, no bitcoin ETF has been approved by the SEC.

NYDIG’s filing notably reveals that Morgan Stanley will serve as the proposed ETF’s authorized participant.
If approved, NYDIG’s bitcoin ETF will trade on the NYSE Arca exchange. NYDIG subsidiaries NYDIG Asset Management LLC and NYDIG Trust Company LLC would serve as sponsor and bitcoin custodian, respectively.

“The Trust’s investment objective is to reflect the performance of the price of bitcoin less the expenses of the Trust’s operations.

Bitcoin technology and financial services firm NYDIG Execution LLC said today it has raised $200 million in new growth funding to help it fund business initiatives relating to bitcoin.

The growth capital round was led by Stone Ridge Holdings Group, Morgan Stanley, New York Life, MassMutual, Soros Fund Management and FS Investments and included Bessemer Venture Partners and FinTech Collective.

“The firms participating in this round are more than investors – they are partners, each well-known to us for years,” Robert Gutmann, co-founder and chief executive officer of NYDIG, said in a statement.

In March, Morgan Stanley became the first big American bank to offer its clients exposure to bitcoin through a trio of funds, one of which was jointly created by NYDIG and FS Investments.

A new filing from the Securities and Exchange Commission (SEC) indicates that a fourth fund will be made available.

Sakes connected to the FS NYDIG Institutional Bitcoin Fund LP have yet to take place, per the June 15 document, described as a new notice. The filing notes that Morgan Stanley “will receive certain placement and servicing fees with respects to clients it refers to the issuer, as disclosed to the applicable clients.”

As detailed back in March, Morgan Stanley initially went live with its offering with two funds from Galaxy Digital and one from NYDIG/FS Investments.

NYDIG and FS Investments formally announced a partnership that same month.

We commend the Yankees for understanding the competitive opportunities and the value of providing bitcoin options for their organization,” said Kelly Brewster, chief marketing officer at NYDIG.

In its in-house research, NYDIG has discovered that employees are increasingly demanding products that will help them invest in Bitcoin. As its extension to the Yankees, subscribers will not be charged a penny in fees, even for the storage of their digital assets.

NYDIG is notably pushing forth the bars when it comes to offering related products to sports outfits and franchises.
As reported earlier by Blockchain.News, NYDIG teamed also partnered with NBA team Houston Rockets, offering the organization’s employees a reliable avenue to get involved with crypto.

NYDIG is particularly driving partnerships amongst institutional investors.

NYDIG, a regulated Bitcoin company, has entered into a multi-year partnership with the American professional baseball team, the New York Yankees to bring Bitcoin Savings Plan (BSP) to all employees of the organization.

Through the partnership, New York Yankees employees will be able to harness the opportunities inherent in the BSP as a workplace benefit that allows staff to convert a portion of their paycheck to Bitcoin via the NYDIG platform. The service offering is protected by strict regulatory standards and will serve as an easy way for subscribers to gain easy exposure to the digital currency ecosystem.

“For employees of the Yankees and beyond, the opportunity to allocate a small slice of their paycheck to a Bitcoin Savings Plan can be one of the most efficient ways to save bitcoin, and the dollar-cost averaging can smooth out the bumps along the way.

Founded in 2017, NYDIG offers a range of financial services dedicated to bitcoin including asset management, derivatives, financing, custody and execution services. The company’s platform is designed to satisfy the highest regulatory, audit and governance standards with a focus on providing solutions to insurers, banks, corporations, institutions and high net worth individuals.

Along with the funding, NYDIG also announced that life, annuity and property and casualty insurers now own, in aggregate, more than $1 billion of direct and indirect bitcoin exposure facilitated exclusively by NYDIG.

While perhaps not that well-known in the broader cryptocurrency space, NYDIG started to gain serious media attention in December when it helped the Massachusetts Mutual Life Insurance Co.

purchase $100 million in bitcoin.

In…El Salvador reportedly weighing paying employees in Bitcoin – Cointelegraph

A 2001 law on monetary integration in the country states that salaries and fees may only be paid in colónes or dollars.

The End Of Bitcoin’s Beginning – Bitcoin Magazine

We are fast approaching sovereign state adoption as game theory plays out in front of bitcoiner’s eyes.

Bitcoin Bull Trap: Bears Begin To Dig Claws Into Crypto Trend – NewsBTC

Bitcoin price is on the rebound, but after such a sharp fall and more than 50% retracement, any reversal must be considered a potential bull trap until much higher prices are reclaimed.

MassMutual took a $5 million stake in NYDIG at the time and has returned with an additional investment in the company with this round.

As noted by Investopedia at the time, MassMutual’s decision to invest in bitcoin is a special case particularly given that the company is considered to be a conservative investor that makes investments only in tried-and-tested financial products or those that are investment-grade. Moreover, the fact that MassMutual would invest in bitcoin could encourage other companies to do so as well.

Bitcoin itself continues on its rollercoaster ride and is yet to reach the record high of $58,012 it hit Feb.
21.

Die NYDIG (New York Digital Investment Group) kündigte den erfolgreichen Verlauf einer Finanzierungsrunde mit 200 Millionen Dollar für Geschäftsinitiativen in Bezug auf Bitcoin (BTC) als Wachstumskapital an. Angeführt wurde die Kapitalrunde von den historischen Investoren der NYDIG, unter anderem Morgan Stanley, auch Stone Ridge Holdings Group, sowie Soros Fund Management, aber auch MassMutual.

Als ein Unternehmen, das Technologie und Investmentdienstleistungen im Bitcoin-Bereich anbietet, arbeitet NYDIG zusammen mit seinen Kooperationspartnern an der Umsetzung von Lösungen, die sich auf Bitcoin beziehen, in den Bereichen Versicherungen, Banken und umweltfreundliche Energien.

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