Managing 12 billion assets, Stone Ridge wants to launch Bitcoin Futures Fund

According to Coindesk's October 3 report, on Wednesday, Stone Ridge filed a prospectus with the US Securities and Exchange Commission to show that it wants to launch a cash-settled bitcoin futures fund, the NYDIG Bitcoin Strategic Fund.

Bitcoin-2007912_1280 (Source: pixabay )

New York-based Stone Ridge manages approximately $15 billion in assets, with customers primarily from the US and China. The company was founded in 2012 and provides portfolio management and consulting services.

According to the prospectus, 100,000 futures stocks will be issued at a price of $10 per share, and there is no minimum purchase. However, the stock will be limited to qualified investors identified by Stone Ridge.

Instead of directly investing in Bitcoin or other digital assets, the fund uses Bitcoin as a potential reference asset. Stone Ridge will buy bitcoin futures and will also purchase large amounts of cash, government securities and commercial securities to maintain liquidity while also providing collateral and leverage services.

The prospectus is more cautious about Bitcoin, saying Bitcoin is a speculative asset:

Bitcoin has evolved over the past 10 years, so there is very little data on its long-term investment potential.

As a prospectus, the details of Stone Ridge's overview may change.

Bitcoin-based financial products continue to be market-oriented, just last week, Bakkt launched a physical settlement of bitcoin futures, although its first week trading volume was only $5 million, but this marked Bakkt lasted more than a year. The end of the regulatory dilemma.

As of press time, Stone Ridge did not respond to requests for comment.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Data tells you how the DEX ecosystem evolved in 2019

Decentralized exchanges (DEX) emerged in 2018 and have flourished in the past year. With DeFi disrupting the economic...

Blockchain

Interview with Justin Sun: Web3 Yu'ebao stUSDT, Tron's Ambition to Connect DeFi and TradFi

stUSDT allows users to access low-risk and stable investment opportunities in national bonds, and supports flexible w...

Blockchain

Babbitt column | Case study: Exchange "downtime", does the holder lose any compensation?

Source of this article: Xiao Sa Author: Tan Hao Guo Xiao Sa The currency circle trading platform advertises that &quo...

Market

Future of Web3: Triple Impact of VSAP on Exchanges, Financial Markets, and TradFi

With the rapid development of the virtual currency market, more and more people are investing and trading in virtual ...

Blockchain

The consensus of using "money" to forge coins - a high-tech that condenses developers' miners' exchanges and users

In 1776, the American Revolutionary War broke out. Why is this war going to fight? The American side said that "...

Market

Interview with Circle CEO by Fortune What role does stablecoin play in the cryptocurrency market?

This article discusses the differences between the cryptocurrency crash in 2022 and the late 1990s internet bubble, t...