VanEck files for a new Bitcoin futures mutual fund with US SEC

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VanEck’s new “Bitcoin Strategy Fund” will invest in BTC futures, pooled investment vehicles and exchange-traded products providing exposure to Bitcoin.

United States investment management firm VanEck has filed for a new Bitcoin (BTC) futures mutual fund with the Securities and Exchange Commission.

According to a prospectus filed Monday, the new “Bitcoin Strategy Fund” will invest in Bitcoin futures contracts as well as pooled investment vehicles and exchange-traded products that provide exposure to Bitcoin. The fund will not invest in Bitcoin or other cryptocurrencies directly.

The fund will have exposure to certain Bitcoin futures through its fully-owned subsidiary operating in the Cayman Islands. “The subsidiary has the same investment objective as the fund and will follow the same general investment policies and restrictions, except that unlike the fund, it may invest without limit in Bitcoin futures,” the prospectus notes.

Source : https://cointelegraph.com/news/vaneck-files-for-a-new-bitcoin-futures-mutual-fund-with-us-sec