NYDIG (New York Digital Investment Group) is a Bitcoin-focused financial services and investment firm founded in 2017 as a subsidiary of Stone Ridge Asset Management. Headquartered in New York City, NYDIG operates at the intersection of institutional finance and Bitcoin, offering custody, execution, prime brokerage, and venture-style strategic investments in Bitcoin-native companies. The firm has grown into one of the largest institutional Bitcoin platforms in the United States, with reported Bitcoin assets under management exceeding $7 billion at its 2021 peak – though figures fluctuate with market conditions and are not publicly updated on a regular basis.
NYDIG raised a landmark $1 billion funding round in 2021 – one of the largest in Bitcoin company history – drawing capital from Morgan Stanley, New York Life, MassMutual, Bessemer Venture Partners, FS Investments, and Liberty Mutual. The round valued the firm at approximately $7 billion. This round validated NYDIG's thesis that regulated financial institutions could engage with Bitcoin through a compliant, institutional-grade intermediary. NYDIG's own venture portfolio spans Bitcoin infrastructure, banking technology, mining finance, and payment rails.
Notable investments and partnerships
- NCR Corporation – partnership to enable Bitcoin purchasing at thousands of bank branches and ATMs across the US
- Q2 Holdings – integration to offer Bitcoin services through community banks and credit unions
- Bitcoin mining financing – NYDIG structured debt facilities for major North American mining operations, effectively acting as a lender and strategic backer to the mining sector
- Bottlepay – Bitcoin payments infrastructure, part of NYDIG's expansion into Lightning Network-adjacent companies
- Employee Bitcoin benefits programs – NYDIG built a product allowing US employers to pay a portion of worker salaries in Bitcoin, partnering with payroll processors including Fiserv
Public information on the full list of NYDIG's 16 portfolio companies is limited. The firm does not publish a standard venture portfolio page, and several investments are made as strategic or balance-sheet positions rather than through a named fund.
Team
- Ross Stevens – Founder and Executive Chairman. Stevens founded Stone Ridge Asset Management in 2012 and spun out NYDIG in 2017. He is a Bitcoin maximalist by conviction and has written extensively on Bitcoin as a long-duration asset.
- Robert Gutmann – Co-founder and CEO. Gutmann leads day-to-day operations and has been the primary public face of NYDIG in institutional fundraising and regulatory engagement.
- Yan Zhao – President. Zhao oversees product, sales, and client relationships across NYDIG's custody and financial services lines.
Recent activity
In 2022–2023, NYDIG navigated significant headwinds. The collapse of FTX and the broader crypto credit crisis forced a restructuring of its mining finance book, as several miner borrowers defaulted or filed for bankruptcy. NYDIG reportedly took possession of mining equipment from distressed counterparties and ran down some lending positions. The firm also conducted internal layoffs in 2022, reducing headcount after a period of rapid hiring. Despite this, NYDIG maintained its custody and institutional brokerage operations and did not face the solvency issues that brought down competitors like Genesis and BlockFi.
Through 2024 and into 2025, NYDIG refocused on its core custody and execution business, benefiting from renewed institutional interest following the approval of spot Bitcoin ETFs by the SEC in January 2024. The firm positioned itself as a back-end infrastructure provider for banks and asset managers seeking Bitcoin exposure without building proprietary systems. Public announcements of new venture investments have been sparse during this period.
NYDIG remains one of the few Bitcoin-only institutional platforms operating under US banking and trust regulations. Its geographic focus is firmly the United States, where it holds trust charters in multiple states. For investors tracking Bitcoin infrastructure bets, NYDIG sits in a distinct category – part financial services firm, part strategic investor – with a track record shaped as much by macro Bitcoin cycles as by individual company outcomes. More detail on its current portfolio and AUM can be found via Crunchbase and NYDIG's official site.