Stone Ridge Holdings Group, which manages about $9.1 billion, the parent of NYDIG, has filed with the SEC to launch the Stone Ridge Bitcoin Strategy Fund, which will invest in bitcoin, the first cryptocurrency.
The fund will invest in futures tied to digital gold and in instruments designed to provide direct or indirect exposure to it.
The strategy targets capital growth. It is expected that the fund will be able to leverage up to 1.25x.
The filing was made on Form N-1A. It is used to establish open-end management investment companies, including mutual funds. In structure the fund resembles NYDIG Bitcoin Strategy Fund II.
In February, Stone Ridge filed to launch the Diversified Alternatives Fund. Its investment targets are bitcoin and other alternative instruments.
In October 2020, Stone Ridge acquired 10,000 BTC. The coins were purchased and held in custody by its subsidiary New York Digital Investment Group (NYDIG). In June, NYDIG and FS Investments filed with the SEC an application for the registration of a bitcoin fund intended for Morgan Stanley clients.
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