NYDIG, the Cryptocurrency investments company, acquired Digital Assets Data to pilot its offering for the institutional base.
The announcement follows a non-disclosed term appointment of Digital Asset Data’s co-founders, brothers Mike and Ryan Alfred, as Head of Product and Mergers and Acquisitions, respectively, to the NYDIG.
Through a press release, Gutmann said;
“As the institutionalization of bitcoin accelerates, so does the need for enterprise-grade data and tools to support it.”
The acquisition ensured a record year growth for NYDIG, an asset management firm that manages over $4 billion in crypto assets. The firm said the addition increased its clients tenfold in 2020. Pensions, high-net-worth individuals, and financial stalwarts contributed to that growth: Insurance giant MassMutual executed a $100 million bitcoin (BTC, +2.04%) buy through NYDIG in December.