RATE Group | US SEC Approves BTC Futures Fund to Offer Shares to Institutional Investors
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US SEC Approves BTC Futures Fund to Offer Shares to Institutional Investors

07 Dec US SEC Approves BTC Futures Fund to Offer Shares to Institutional Investors

Posted at 12:10h in Bitcoin News by

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Bitcoin (BTC) futures-focused NYDIG Bitcoin Strategy Fund has procured approval from the United States Securities and Exchange Commission (SEC), entitling it with the right to offer its shares to institutional investors.

According to an SEC filing that came into effect on Dec. 2, the New York Digital Investment Group LLC (NYDIG) is now authorized to offer its shares to institutional investors, including registered investment advisers, their clients, and other eligible investors. For those who intend to invest in the shares, the fund does not put forward a minimum investment requirement.

Cash-settled BTC futures

The fund describes itself as “a non-diversified, closed-end management investment company that continuously offers its shares,” with the objective of achieving capital appreciation by investing in BTC futures contracts. The proposed maximum offering price per share is $10, while its initial capital is $25 million.

Detailing its investment strategy, the company noted that…

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