Share this article
AdvisorShares Files for Bitcoin Futures ETF
Morgan Creek Capital will serve as a sub-adviser for the AdvisorShares Managed Bitcoin ETF.
By James Rubin
Updated Sep 14, 2021, 1:43 p.m. Published Aug 21, 2021, 12:09 a.m.
Make us preferred on Google
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.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- 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.
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Bullish bitcoin traders grab crash protection as Friday's $8.9B expiry nears
Bitcoin and ether options worth billions of dollars are set to expire this Friday.
What to know:
- Bitcoin options worth $8.5 billion and ether options worth $1.3 billion are set to expire Friday on Deribit, with positioning skewed toward bullish call bets.
- The bitcoin put-call ratio of 0.56 shows traders entered January expecting stronger bitcoin gains.
- Ahead of the Federal Reserve's rate decision, some traders are buying downside protection to hedge short-term volatility.
Top Stories
