Morgan Creek and Exos Financial filed a new Bitcoin (BTC) fund with the US Securities and Exchange Commission, or SEC, on Thursday. If approved, the fund will offer institutional investors another way to trade the flagship cryptocurrency without the volatility of owning it.
Kevin rooke reported The Morgan Creek-Exos risk management Bitcoin fund was filed with U.S. regulators on Friday. The fund intends to provide direct exposure to Bitcoin with built-in mechanisms to reduce the allocation when quantitative signals turn negative.
As Rooke reports, the fund “handles the technical details of Bitcoin trading, transfer, and custody.”
Founded by Mark Yusko, Morgan Creek Capital Management offers alternative investment products. The company operates a digital assets division specializing in blockchain technology and Bitcoin investments.
Exos Financial is a business-to-business institutional financing platform that has been designed to provide all the services of a traditional investment bank. The company originates, trades and invests in alternative assets.
This story is still in development.