spot_img
spot_img
spot_img
ThecoinrepublicBitcoinStone Ridge Sanctioned a Plan for Liquidation...
google-news-img

Trending

Hamster

Hamster

notco

Notcoin

mogutou

Mogutou

Premium Partners

immerion
spot_img

Stone Ridge Sanctioned a Plan for Liquidation of its Bitcoin Fund

spot_img

  • Stone Ridge filed a notice with the U.S. SEC for liquidation of its bitcoin fund.
  • The liquidation of the Bitcoin fund is expected to take place on or about October 21, 2022.

Ross Stevens, CEO of Stone Ridge, founded the firm in 2012. In 2017 he launched bitcoin-focused New York Digital Investment Group (NYDIG), where he serves as Executive Chairman. Stone Ridge Holdings Group presently owns two subsidiaries, Stone Ridge Asset Management and NYDIG.

The SEC Filing

According to the filing by the U.S. Security and Exchange Commision (SEC), “The Board of Trustees of Stone Ridge Trust sanctioned a plan of liquidation and dissolution for the Stone Ridge Bitcoin Strategy Fund on September 9, 2022. The liquidation of the Fund is expected to take place on or about October 21, 2022. Effective after the close of business on October 3, 2022, the Fund’s shares will generally no longer be available for purchase.”

The filing further added that, “Stone Ridge Asset Management LLC (“Adviser”) expects to operate the Fund pursuant to its stated investment strategy through the close of business on October 3, 2022. After October 3, 2022, the Adviser will reduce the Fund to cash in preparation for the Liquidation Date. Proceeds of the liquidation of the Fund are expected to be distributed to shareholders in cash. The liquidation proceeds are expected to be distributed promptly following the Liquidation Date in full redemption of each shareholder’s shares of the Fund.”

Furthermore, in October 2020, Stone Ridge bought 10,000 bitcoin with the use of NYDIG. As it was part of a post-pandemic investment strategy that made it one of the largest bitcoin holders amidst private firms.

On the other hand, Bitcoin is currently trading at the price of $22,309.27 USD with the 24h high of $22,470.27 USD.

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

Our Newsletter

Subscribe to our newsletter to get the latest news and promotions.

Andrew Smith
Andrew Smith
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
spot_img
spot_img

Related News

Mt. Gox
Maxwell Mutuma

Mt. Gox Wallet Moves $2.8 Billion in Bitcoin, Sparks Market Concerns

Bitcoin TheCoinRepublic
Kelvin Munene
Bitcoin
Ritika Sharma
Spot Bitcoin ETFs
Kelvin Munene
Bitcoin German Govt
Kelvin Munene
Bitcoin
Adarsh Singh
spot_img