Stone Ridge Holdings Group, an $11.4 billion asset manager that owns NYDIG, has just announced the closure of a Bitcoin futures-based investment fund.
The company has submitted the appropriate filing to the US Securities and Exchange Commission (SEC).
The Stone Ridge Bitcoin Strategy Fund received regulatory approval back in December 2019. At that time, the firm stated the shares would not be listed on exchanges and could not be bought or sold on a daily basis.
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According to the document, Stone Ridge Holdings Group plans to close the structure during the second half of October. Until then, the company intends to manage it in accordance with its stated investment strategy.
The press release reads:
"Proceeds from the liquidation of the fund are expected to be distributed in cash to shareholders after the liquidation date through a full share repurchase."