Stone Ridge Adds Bitcoin to Diversified Alternatives Fund

Asset management firm Stone Ridge added bitcoin as an investment strategy in its diversified alternatives fund to take effect on April 26, according to documents filed with the Security and Exchange Commission yesterday.  The diversified alternatives fund is composed of investment […]

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key takeaways

  • Asset manager Stone Ridge added bitcoin as an investment strategy in its diversified alternatives fund
  • The fund will not hold bitcoin but have exposure through put options and futures contracts

Asset management firm Stone Ridge added bitcoin as an investment strategy in its diversified alternatives fund to take effect on April 26, according to documents filed with the Security and Exchange Commission yesterday. 

The diversified alternatives fund is composed of investment vehicles other than stocks and bonds, including single-family real estate and market risk transfer, according to Stone Ridge. Bitcoin will be the seventh investment strategy in the fund, which will have exposure through put options and futures contracts. 

Additionally, the fund “may also seek exposure to the price of bitcoin by investing in other pooled investment vehicles, such as registered or private funds, that invest in bitcoin directly,” according to the prospectus. 

The move follows Stone Ridge’s historically bullish stance on bitcoin. In 2018, the firm created the New York Digital Investment Group (NYDIG), which serves as a digital asset manager and custodian. NYDIG currently custodies Stone Ridge’s 10,000 bitcoin.

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