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$11.4 billion asset manager Stone Ridge Holdings Group is liquidating a bitcoin futures investment fund. The company has submitted a corresponding application to the US Securities and Exchange
$11.4 billion asset manager Stone Ridge Holdings Group is liquidating a bitcoin futures investment fund. The company has submitted a corresponding application to the US Securities and Exchange Commission.
The Stone Ridge Bitcoin Strategy Fund received regulatory approval in December 2019. At the time, the firm stated that the shares would not be traded on exchanges and 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 plans to manage according to the stated investment strategy.
“The proceeds from the liquidation of the fund are expected to be distributed in cash to shareholders. […] After the date of liquidation through full share buyback,” he said.
In 2017, Stone Ridge founded the New York Digital Investment Group (NYDIG) to manage its Bitcoin investments.
Later, the subsidiary became the owner of BitLicense and raised $105 million from 15 investors in the NYDIG Institutional Bitcoin Fund.
In 2020, Stone Ridge added 10,000 BTC (~$114 million at the time) to their balance.
Recall that in December 2021, NYDIG collected $ 1 billion. Investors valued the company at $ 7 billion.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
