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

Cointelegraph | Dec 6, 2019 at 4:16 PM
  • 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.
  • 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.
  • Detailing its investment strategy, the company noted that the fund will only invest in cash-settled BTC futures traded on commodity exchanges registered with the U.S. Commodity Futures Trading Commission.