Stone Ridge Asset Management is closing its futures-linked Bitcoin Strategy Fund. an appropriate one application the asset manager from the USA submitted to the Securities and Exchange Commission (SEC) on Monday.
As the document shows, Stone Ridge will stop selling the fund shares on October 3rd. Final liquidation is scheduled to occur on or about October 21.
Stone Ridge did not give specific reasons for the closure. Investor interest may have been too low. According to Google Finance, the Bitcoin Strategy fund has only generated a volume of 2.3 million US dollars since its launch in 2019. In addition, more and more financial service providers launched their own Bitcoin funds in the years that followed, some with lower fees.