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On Thursday, Morgan Creek and Exos Financial filed a new Bitcoin (BTC) fund application with the US Securities and Exchange Commission. If approved, this fund will provide institutional investors with another way to do more bitcoins without the volatility risk of directly holding bitcoins.
Kevin Rooke reported that the Morgan Creek-Exos Risk Management Bitcoin Fund has been submitted to US regulators. The fund intends to directly provide bitcoin exposure through a built-in mechanism to reduce allocation when the quantitative signal turns negative.
As reported by Rooke, the fund “resolved the technical details of Bitcoin transactions, transfers, and custody.”
Exos stated in its initial marketing materials that it is necessary to eliminate market volatility for institutional investors who are not used to Bitcoin’s volatility and high-tech attributes.
According to Exos:
“When the indicator is positive, this fund allocates all funds to Bitcoin, and when the indicator is negative, it will reduce or exit its position.”
Morgan Creek was founded by Mark Yusko to provide other investment products for institutional investors. This company runs a digital asset department that specializes in blockchain technology and Bitcoin investment.
As a business-to-business market platform, Exos is engaged in securities, commercial finance and asset management services.
In 2020, institutional purchases of Bitcoin and other cryptocurrencies have led to a new wave of adoption. Crypto funds, derivatives, and exchange-traded products have stimulated a new parabolic trend in Bitcoin prices.
The strong bullishness of legendary investors such as Paul Tudor Jones and Stanley Druckenmiller has brought more and more mainstream adopters, both of whom hold Bitcoin.
In addition to allowing investors to accept Bitcoin, companies also bet on Bitcoin this year. It is estimated that companies hold approximately 842,229 bitcoins, which are worth approximately $15.7 billion today.
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