Per the filing, the liquidation of the fund is expected to take place on or about October 21 and as of the close of business on October 3, shares will not be available to purchase. The asset manager expects to operate the fund in accordance with its stated investment strategy up until this point.
"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 filing said. "The liquidation proceeds are expected to be distributed promptly following the Liquidation Date in full redemption of each shareholder’s shares of the Fund."
Asset manager Stone Ridge launched the fund in 2019, filing a prospectus with the SEC for the bitcoin futures fund referred to as the "NYDIG Bitcoin Strategy Fund" in October of that year. Stone Ridge received approval in December 2019.
At the time, the firm said the fund would only buy cash-settled bitcoin futures traded on exchanges registered with the U.S. Commodity Futures Trading Commission (CFTC), and not in physically-settled bitcoin futures. The fund did not plan to invest in bitcoin or other cryptocurrencies directly.
Stone Ridge Asset Management LLC is part of the Stone Ridge Holdings Group, a multi-billion dollar asset management business that also owns the NYDIG, a subsidiary focused on digital currency investment valued at over $7 billion last December.