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VanEck Files Prospectus for a New Bitcoin Futures Mutual Fund
The fund, managed by Gregory Krenzer, will invest in bitcoin futures and exchange-traded products with bitcoin exposure.
Investment firm VanEck filed a new draft prospectus for a bitcoin futures mutual fund with the U.S. Securities and Exchange Commission (SEC) on Monday.
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- According to the prospectus, the “Bitcoin Strategy Fund” will invest in bitcoin futures contracts as well as pooled investment vehicles and exchange-traded products (ETPs) with exposure to bitcoin. However, the fund will not invest in bitcoin or other digital assets directly.
- The fund will invest in bitcoin futures through a subsidiary in the Cayman Islands and the portfolio will be managed by Gregory Krenzer. The fund’s fee structure was left blank in the document.
- Meanwhile, VanEck has a proposed bitcoin exchange-traded fund (ETF) under review in the U.S. Earlier this month, the SEC delayed passing judgment on the VanEck Bitcoin Trust for a second time.
- In Europe, VanEck launched a thematic ETF last month offering exposure to companies in the cryptocurrency and blockchain industry. The vehicle is meant to rival a similar offering from asset manager Bitwise.
Read more: SEC Again Delays VanEck Bitcoin ETF Decision
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
