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(Kitco News) – The New York Digital Investment Group (NYDIG) appears unfazed by a broad crypto cut for 2022. A recently released report by the company shows that the company’s cryptocurrency balance hit a record high in the third quarter.
“NYDIG bitcoin balances hit a record high in the third quarter, up almost 100% year-on-year. It will increase further, ”the company wrote in the news. release.
Additionally, according to new filings with the U.S. Securities and Exchange Commission (SEC), NYDIG Institutional Bitcoin Fund LP has so far raised a total of $719.9 million from 59 investors, the most since its last fundraising. , with an investment of just over $28 million. In 2021, total investment will reach $691 million.
The filing states that the SEC “has not necessarily reviewed the information in this filing and has not determined whether it is accurate or complete.”
NYDIG bills itself as a “Bitcoin company” that provides refrigerated storage solutions to institutional investors and high net worth individuals. The company is also focused on driving adoption of Bitcoin’s Layer 2 scaling solution, the Lightning Network (LN).
NYDIG’s new CEO, Tejas Shah, said in a press release: “We are excited to bring next-generation wallet and payment solutions that are faster, cheaper and more secure to our growing array of enterprise technology clients.”
A focus on Lightning Network development is becoming a popular focus for companies interested in the crypto space, and business intelligence company MicroStrategy recently posted a job posting for an LN developer.
Ark Invest partners with Eaglebrook to increase access to its crypto assets
Kathy Wood’s investment firm, Ark Investment Management LLC, has launched a new collaboration with Individually Managed Account (SMA) provider Eaglebrook Advisors to make two ARK crypto funds available to registered investment advisors. Announced.
“ARK and Eaglebrook are collaborating to create two actively managed crypto strategies, the ARK Cryptocurrency Strategy and the ARK Cryptoasset Strategy, available as separately managed accounts for registered investment advisor clients. ,” said the press release.
The “Cryptocurrency Strategy” portfolio is an “actively managed high-conviction portfolio invested primarily in Bitcoin and Ether”.
ARK’s crypto asset strategy will actively manage 10-20 tokens that “represent opportunities related to key themes identified by ARK such as smart contract networks, decentralized finance, Web3, infrastructure and scaling.” It is designed to take advantage of the internet and the financial revolution.
According to ARK founder Cathie Wood, “This strategy meets the needs of financial advisors, wealth managers, and their clients by offering direct ownership, low minimums, and portfolio reporting integration. It will be an Individually Managed Account (SMA) designed to:”, CEO, CIO. “Advisors can help differentiate and diversify their client base by adding this new asset class to their portfolios.”
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