First U.S. Bitcoin Mutual Fund Launched By $60 Billion Fund Manager
The first publicly available U.S. mutual fund that generally tracks the price of Bitcoin has been launched by a $60 billion fund manager.In a press release this morning ProFunds announced the launch of its Bitcoin Strategy ProFund (BTCFX). This will be the first publicly available U.S. mutual fund that generally tracks the price of Bitcoin. Image source On the ease of access and mass exposure that this mutual fund will provide, ProFunds CEO Michael Sapir said that “Compared to directly buying bitcoin, which may involve opening a new account with an unregulated party, this ProFund offers....
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Asset management firm Stone Ridge has filed with the U.S. Securities and Exchange Commission (SEC) for its open-end mutual fund to invest in bitcoin. “This is a big deal. Stone Ridge filing opens the door for every mutual fund to add bitcoin,” said a fellow asset manager. Stone Ridge Wants Its Mutual Fund to Invest in Bitcoin Stone Ridge Trust filed Form N-1A with the U.S. Securities and Exchange Commission (SEC) last week. The filing, which is expected to become effective on April 26, relates to the Stone Ridge Diversified Alternatives Fund. The fund “seeks to generate....
Purpose Investments, an institutional firm with more than $12 billion under management, on Wednesday announced the launch of mutual fund units for the world’s first ETF backed and settled by Bitcoin.
ProFunds, the provider of different mutual funds, has launched a Bitcoin Strategy ProFund under the ticker BTCFC available in the U.S. This is the first investment product under this model to tack the BTC’s price performance. As with other similar investments products, this fund allows clients to gain exposure to Bitcoin without having to hold […]
The asset manager, now the largest to offer a bitcoin ETF, has also launched a bitcoin mutual fund up North.
Stone Ridge Asset Management, the parent company of New York Digital Investment Group, or NYDIG, has been actively pursuing new investment vehicles for Bitcoin. On Friday, Stone Ridge's open-end mutual fund revealed a new Bitcoin-focused investment strategy. Stone Ridge Asset Management, the alternative investment manager behind New York Digital Investment Group, has filed a new prospectus with the United States Securities and Exchange Commission, or SEC, to add Bitcoin (BTC) to its open-end mutual fund. The prospectus for Stone Ridge Bitcoin Strategy Fund appeared on the SEC website on....