AdvisorShares Files for Bitcoin Futures ETF

Morgan Creek Capital will serve as a sub-adviser for the AdvisorShares Managed Bitcoin ETF.

AccessTimeIconAug 21, 2021 at 12:09 a.m. UTC
Updated Sep 14, 2021 at 1:43 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

AdvisorShares, an investment management firm that offers a range of themed exchange-traded funds, has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a bitcoin futures ETF.

  • The AdvisorShares Managed Bitcoin ETF will invest “all or substantially all of its assets in exchange-traded futures contracts on bitcoin” and collateral, according to the filing.
  • The Bethesda, Md.-based investment management firm said in the filing that it will not invest directly in bitcoin.
  • Morgan Creek Capital will serve as the Fund’s sub-adviser, using its research and other resources to help guide the Fund’s investment strategies.
  • In remarks earlier this month, Securities and Exchange Commission Chair Gary Gensler suggested he would look more favorably upon bitcoin ETFs that only trade bitcoin futures contracts.
  • Investment firms VanEck and ProShares both withdrew their applications with the SEC for approval of ether futures ETFs, just two days after filing them, according to Bloomberg analyst Eric Balchunas on Friday.
  • There are over a dozen bitcoin ETF applications currently before the SEC, which has yet to approve one.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.