- 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.
- There are over a dozen bitcoin ETF applications currently before the SEC, which has yet to approve one.