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Finance

Asset Manager Stone Ridge Shutting Bitcoin Futures Fund

Launched in 2019, the fund failed to garner significant assets under management.

By Stephen Alpher
AccessTimeIconSep 12, 2022 at 3:08 p.m. UTC
Updated May 11, 2023 at 6:55 p.m. UTC
Stone Ridge is closing its bitcoin futures fund (Unsplash)
Stone Ridge is closing its bitcoin futures fund (Unsplash)

Stone Ridge Asset Management intends to liquidate and dissolve its Stone Ridge Bitcoin Strategy Fund next month, according to a Securities and Exchange Commission filing.

The fund launched in late 2019 with a strategy to invest in bitcoin (BTC) via futures contracts, but failed to find interest with investors. Today it holds only about $2.3 million in assets under management, according to Google Finance.

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    • The fund likely faced headwinds not just from the bitcoin bear market, but also SEC approval of a number of competing bitcoin futures exchange-traded funds, at least some of which charged fees less than the Stone Ridge product.

    Stone Ridge was founded in 2012 by Ross Stevens, who remains its CEO. Five years later, he launched bitcoin-focused New York Digital Investment Group (NYDIG), where he serves as executive chairman. Stone Ridge Asset Management and NYDIG are both subsidiaries of Stone Ridge Holdings Group.


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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Stephen Alpher
    Stephen Alpher

    Stephen Alpher is CoinDesk's managing editor for Markets. He holds BTC above CoinDesk’s disclosure threshold of $1,000.

    Follow @SteveAlpher on Twitter