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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

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