Mo.bi - Crypto Currency Tracker logo Mo.bi - Crypto Currency Tracker logo
Seeking Alpha 2021-06-22 17:01:57

VanEck files for a bitcoin futures mutual fund with the SEC

gesrey/iStock via Getty Images As the U.S. Securities and Exchange Commission continues to appear to drag its feet and delay passing a judgment on the VanEck Bitcoin ETF, VanEck has now filed for a new crypto fund. VanEck submitted paperwork on a preliminary prospectus with the SEC to launch the Bitcoin Strategy Fund, a new bitcoin futures mutual fund. Per the prospectus of the Bitcoin Strategy Fund: “The fund seeks to achieve its investment objective by investing, under normal circumstances, in bitcoin futures contracts, as well as pooled investment vehicles and exchange-traded products that provide exposure to bitcoin. The fund does not invest in bitcoin or other digital assets directly.” Furthermore, the prospectus also mentions: “The fund seeks to invest in bitcoin investments so that the total value of the bitcoin to which the fund has economic exposure is approximately 100%.” Bitcoin (BTC-USD) is currently trading positive on the day at $32,540

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.