NYDIG Acquires Digital Assets Data

The acquisition bolsters NYDIG's data offerings as it continues to build out an institutional client base.

AccessTimeIconJan 11, 2021 at 7:25 p.m. UTC
Updated May 15, 2023 at 1:37 p.m. UTC

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

Cryptocurrency investments company NYDIG said Monday it acquired Digital Assets Data, a move that will pad the asset manager's crypto research and analytics offerings for its institutional base.

Digital Asset Data's co-founders, brothers Mike and Ryan Alfred will join NYDIG, the companies said. Ryan will become head of product and Mike will oversee mergers and acquisitions. The terms of the deal were not disclosed.

The acquisition follows a record year growth for NYDIG. In a press release, the firm, which manages over $4 billion in crypto assets, said it 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 buy through NYDIG in December.

"As the institutionalization of bitcoin accelerates, so does the need for enterprise-grade data and tools to support it," Gutmann said in a press statement.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.