Stone Ridge Holdings Group to close Bitcoin futures fund

Asset manager on $11.4 billion Stone Ridge Holdings Group is liquidating a Bitcoin futures fund. The company filed the corresponding notice with the U.S. Securities and Exchange Commission.

Stone Ridge Bitcoin Strategy Fund received regulatory approval in December 2019. At the time, the firm said that the shares would not be listed on exchanges; they could not be bought or sold on a daily basis.

According to the document, Stone Ridge Holdings Group plans to close the structure in the second half of October 2022. Until then, the company intends to manage it in accordance with the stated investment strategy.

“It is expected that the proceeds from the liquidation of the fund will be distributed in cash among shareholders … after the liquidation date through a full repurchase of shares,” the statement said.

In 2017, Stone Ridge created New York Digital Investment Group (NYDIG) to manage its bitcoin investments.

Subsequently, the subsidiary became the holder of BitLicense and attracted $105 million from 15 investors into the NYDIG Institutional Bitcoin Fund.

In 2020, Stone Ridge added 10,000 BTC to its balance (~$114 million at the time).

Earlier in December 2021, NYDIG attracted $1 billion. Investors valued the company at $7 billion.

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