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NYDIG is a fund management firm that operates as the crypto-facing subsidiary of Stone Ridge Holdings Group LLC. The company provides an avenue for large investors to improve their crypto exposure. Last year, it helped facilitate the purchase of $100 million by MassMutual, the Massachusetts-based insurance giant. NYDIG currently has $6 billion assets under management, and the firm has seen enough institutional investors' commitment to push the figure past the $25 billion mark.

New York Digital Investment Group (NYDIG) joined the crowd and registered with the U.S. Securities and Exchange Commission (SEC) for a Bitcoin exchange-traded fund (ETF). 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. Morgan Stanley would act in the capacity of an initially authorised participant and the Delaware Trust Company would be the trustee. However, the SEC is yet to approve a Bitcoin ETF on concerns around Bitcoin's volatility, and its high potential for price manipulation.

The US Securities and Exchange Commission (SEC) has shot down two spot bitcoin exchange-traded fund (ETF) proposals (NYDIG and Global X) .As has been the case with rejections for other spot bitcoin ETF proposals, the regulatory filings cited a lack of surveillance-sharing agreements and the perceived inability to curb fraud or manipulative practices in the market.

Morgan Stanley has told its financial advisors that the bank is launching access to three funds that enable ownership of bitcoin. Two of the funds on offer are from Galaxy Digital, while the third is a joint effort from asset manager FS Investments and bitcoin company NYDIG. Morgan Stanley considers it suitable only for people with "an aggressive risk tolerance" who have at least $2 million in assets held by the firm. Investment firms need at least $5 million at the bank to qualify for the new stakes.

The NYDIG Bitcoin Strategy Fund will invest in cash-settled bitcoin futures contracts traded on CFTC-registered exchanges. The fund does not intend to invest in crypto-assets directly.

"Lightning Labs raised a Series B funding round, led by Valor Equity Partners and global asset manager Baillie Gifford, both early backers of Tesla and SpaceX. Among other high-profile investors are Robinhood CEO Vlad Tenev, NYDIG and Silvergate CEO Alan Lane. This follows on a $10 million Series A in 2020, following an even earlier investment by Twitter and Block co-founder Jack Dorsey. Stark declined to disclose the firm's post-money valuation."

The U.S. Securities and Exchange Commission (SEC) has again delayed ruling on NYDIG's proposal for a spot bitcoin exchange-traded fund (ETF). The original January 15, 2022 deadline has been extended to March 15. Recently the SEC has rejected and delayed decisions on numerous spot bitcoin ETF proposals.