Fund declines, the Fund will lose value.". A new bitcoin investment fund launched last week in the US is part of a wider strategy that includes a planned effort to offer institutional investors a way to short the market. "It represents further mainstreaming. Futures began trading this month, believed to be a way to draw professional investors and oversight. Last week, CoinDesk reported that REX ETF, an investment firm based in Connecticut, had launched a fund that plans to invest primarily in bitcoin futures and other derivatives without actually buying direct exposure to the cryptocurrency. Bitcoin fans have long wanted an ETF for the digital currency without much success. In announcing the move, REX indicated that it would seek to launch multiple investment products built around the tech. Otcqx, an over-the-counter market, under the Alternative Reporting Standard for companies not required to register with the Securities and Exchange Commission (SEC). . According to a filing from last week, the REX Short Bitcoin Strategy ETF will be similar in scope relying on financial derivatives of bitcoin and not the cryptocurrency itself but with the aim of shorting the market. The Fund will be actively managed with respect to the instruments held by the Fund, and the notional value of the Funds short exposure to bitcoin may vary on each trading day. Its success mirrors that of Bitcoin because its value is derived solely from that cryptocurrency.
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That means it would take more than 1,000 shares of gbtc to own one bitcoin. . Gift Article share up to 20 articles a month with family, friends and colleagues. Discount offer for new customers only and further. As of October 2018, gbtc had.34 billion assets under management (AUM) and.06 million shares outstanding. . "By being long free bitcoin faucethub Bitcoin Futures Contracts, the Fund seeks to benefit from daily increases in the price of the Bitcoin Futures Contracts according to the SEC filing. Steeper declines could mean that shares could lose most or all of their value. An ETF product would add further legitimacy. Show chapters, a bitcoin ETF took another step closer to reality after the nyse filed with the SEC to list two funds tracking bitcoin futures. Cboe are moving to launch derivatives trades and others are eyeing the intellectual property that could underlie future offerings as well. Marc Chandler and Win Thin, two of the bank's foreign exchange strategists, are widely followed among currency brokers. Getty Images, recent developments have been boosting the profile of bitcoin and other cryptocurrencies, which are unregulated and highly volatile. Discount Terms and Conditions apply.