Capital management companies Morgan Creek and Exos filed a new Bitcoin (BTC) fund application with the US Securities and Exchange Commission (SEC) this week.
If approved, the fund called Exos Risk-Managed Bitcoin Fund will provide institutional investors with another way to invest in this cryptocurrency with the highest market value without having to actually hold the cryptocurrency.
Morgan Creek, which provides alternative investment products, was founded by Mark Yusko, which operates a digital asset division that specializes in blockchain technology and Bitcoin investment. Exos is a business-to-business institutional financial platform designed to provide all the services of traditional investment banks. The company also participates in the issuance, trading and investment of alternative assets.
The fund’s website states, “Bitcoin has laid the foundation for a new asset class that may become the largest technological innovation since the Internet.”
This private fund aims to provide opportunities to invest in Bitcoin and reduce the volatility of returns. According to the official website of the fund, the foundation determines the funds allocated to Bitcoin based on indicators. Once the indicator becomes negative, the foundation reduces its allocation.
Yusko has always been a supporter of Bitcoin. He recently stated, “It is clear that Bitcoin surpassed the S&P index in 2019, and this year it did it again. This is an asset that most people don’t understand .”
Facing the current inflation caused by the economic stimulus and quantitative easing policies introduced by governments and central banks in response to the new crown epidemic, Yusko said, “People’s wealth is being stolen by inflation.”
