The New York Digital Investment Group LLC (NYDIG) has received approval from the United States Securities and Exchange Commission (SEC) to offer its shares to institutional investors, including registered investment advisers, their clients and other eligible investors.
The fund aims to invest in cash-settled BTC futures traded on exchanges that are registered with the U.S. Commodity Futures Trading Commission. Though the increasing number of offerings by various companies targeting the institutional investor is a positive sign, the larger players have been slow to invest in the space due to regulatory concerns and high volatility.