Asset management giant Stone Ridge has applied to the US SEC to liquidate its Bitcoin strategy fund

Asset management giant Stone Ridge has submitted a liquidation and dissolution plan for its Bitcoin Strategy Fund to the U.S. Securities and Exchange Commission (SEC). , the stock will not be available for purchase. The asset manager wishes to operate the fund in accordance with its stated investment strategy, in which "the funds will be converted into cash in preparation for a liquidation date, proceeds from the liquidation are expected to be distributed to shareholders in cash, liquidation proceeds are expected to be distributed promptly after the liquidation date, for the full redemption of the shares of each shareholder of the Fund". Foresight News noted that Stone Ridge launched the fund "NYDIG Bitcoin Strategy Fund" in 2019, and submitted a prospectus to the US SEC in October of that year, and was approved in December. The fund will only purchase funds listed in the US Commodity Futures Trading Commission ( CFTC) registered exchange-traded cash-settled bitcoin futures, rather than physically-settled bitcoin futures.