AdvisorShares applies to launch a Bitcoin-futures ETF

ETF-provider AdvisorShares filed filing with the SEC to launch an actively managed Bitcoin-futures ETF. Morgan Creek Capital will serve as co-manager of the strategy.

The partner will handle market forecasting to increase or decrease the ETF’s risk exposure.

The vehicle complies with the Investment Company Act of 1940 and the Securities Act of 1933.

The list of investable assets includes:

• Regulated Bitcoin futures;
• ETPs, including ETNs, based on Bitcoin;
• short-term fixed-income instruments.

The AdvisorShares Managed Bitcoin ETF does not involve direct purchases of Bitcoin.

Earlier, SEC Chair Gary Gensler stated that the agency is open to considering proposals to launch Bitcoin-futures ETFs on the Chicago-based futures exchange.

As reported, filings to launch Bitcoin ETFs, in line with regulator guidance, have been filed by Valkyrie Investments, VanEck, Invesco, ProShares and Galaxy Digital.

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