VanEck Files Application for BTC Futures Mutual Fund With the SEC
Asset manager VanEck has just filed a new application with the US Securities and Exchange Commission to launch a new Bitcoin futures mutual fund after the regulator postponed its decision on the company’s proposed ETF just a few days ago.
According to the filing, the fund, dubbed “Bitcoin Strategy Fund,” will invest in different products, including Bitcoin futures contracts, pooled investment vehicles and ETPs (exchange-traded products), all of them with exposure to the leading crypto. However, it is worth mentioning that the fund will not make any direct investment in any cryptocurrency.
The manager of the portfolio of the fund will be Gregory Krenzer, deputy portfolio manager for the VanEck Commodity Index Strategy, who has more than 25 years of experience in the international and financial markets.
We should remember that the SEC has recently put off again its decision on the approval of the company’s Bitcoin ETF. The watchdog now has 45 more days to make a decision.