$ 10 in Bitcoin funds millard New York asset manager Bestanden nieuwe registratie

Asset manager Stone Ridge is creating a new bitcoin-focused fund as part of its investment strategy.

In a July 23 prospectus filed with the U.S. Securities and Exchange Commission (“SEC”), The New York-based $ 10 billion asset management firm (AUM) must register with the Stone Ridge bitcoin Strategy Fund.

The fund focuses on bitcoin futures contracts and combined investment instruments that directly or indirectly invest in the flagship cryptocurrency.

The fund does not invest directly in bitcoin (BTC) and other crypto assets, the company said. The fund is also expected to hold significant cash balances and traditional assets such as government securities, mortgage-backed securities and money market funds. Investments in traditional vehicles will serve the fund’s various purposes, according to Stone Ridge.

“Cash and fixed income investments are designed to provide liquidity, secure the fund’s futures contracts and support the leveraged use of the fund.

The fund aims to invest in bitcoin-related investments in such a way that the fund’s economic exposure is decidedly between 100% and 125% of the fund’s net assets (“target exposure”). The fund’s target exposure will generally not change based on daily bitcoin price changes or the fund’s bitcoin-related investments…

To the extent that the economic exposure of the Bitcoin fund exceeds 100% of the fund’s net assets, the fund will often have an impact on the value of bitcoin.”

The SEC’s statement comes months after Stone Ridge Holdings Group reported it had bought more than $ 100 million worth of bitcoins as part of its Treasury reserves strategy. The acquisition was carried out and held by New York Digital Investment Group (NYDIG), a subsidiary of the company.

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