NYDIG, the company that facilitated MassMutual’s USD 100 million Bitcoin buy in 2020, has raised USD 200 million from Morgan Stanley and other large investors.
The round included Stone Ridge Holdings Group, New York Life, MassMutual, Soros Fund Management and FS Investments. Past investors Bessemer Venture Partners and FinTech Collective also participated.
NYDIG burst onto the scene in December 2020 as the firm that got a 169-year-old insurance institution to embrace Bitcoin in full, according to Coin Desk. MassMutual took a USD 5 million equity stake in NYDIG at the time. In February 2021, Gutmann said NYDIG will likely manage over USD 25 billion in Bitcoin on behalf of clients by the end of 2021.
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