Stone Ridge Has Filed To The SEC For A Bitcoin Fund

Stone Ridge has filed to the SEC for a Bitcoin Fund. As it will be remembered, Stone Ridge bought 10,000 BTC in October 2020.

Stone Ridge Asset Management, the parent company of New York Digital Investment Group (NYDIG), is actively looking for new investment vehicles for Bitcoin. In an announcement on July 24, Stone Ridge's mutual fund came up with a new Bitcoin-focused investment strategy. Accordingly, Stone Ridge Asset Management, the alternative investment manager behind New York Digital Investment Group, filed an application with the United States Securities and Exchange Commission to add Bitcoin to its mutual fund. The Stone Ridge fund is also recognized as part of the investment portfolio of the Stone Ridge Trust, a Delaware-registered investment firm. In the statement, it was noted that the initial investment target of the Stone Ridge Bitcoin Strategy Fund is capital valuation. It was stated that the fund aims to own Bitcoin through futures markets as opposed to spot purchases. The statement included the following statements: “The fund pursues its investment strategy primarily by investing in Bitcoin futures contracts and investment instruments that invest directly or indirectly in Bitcoin. The fund does not invest directly in Bitcoin or other digital assets.” As it will be remembered, Stone Ridge purchased 10,000 BTC in October 2020 for its strategic investment initiative. The time of the Bitcoins bought by the company also coincided with a golden period. Because, after the purchases, Bitcoin went up to around $ 65,000 and entered an eight-month upward trend.