February 1, 2023

SEC approves Bitcoin futures investment fund

The US Securities and Exchange Commission (SEC) approved the launch of a fund that will invest exclusively in settlement bitcoin futures on regulated exchanges.

It's about the Bitcoin Strategy Fund from the asset manager of the New York Digital Investment Group (NYDIG), which will offer investors 2.5 million shares for $ 10.

NYDIG has already received BitLicense and a limited trust trust from the New York regulator.

At the time of writing, settlement Bitcoin futures are only traded on CME. The same product will soon launch Bakkt, but on the ICE Singapore exchange.

Earlier, the SEC rejected the application for the launch of the Bitcoin ETF from Bitwise, but agreed to review it again.