The Morgan Creek-Exos Bitcoin fund was filed with the SEC on Thursday.
Morgan Creek and Exos Financial filed a new Bitcoin (BTC) fund with the U.S. Securities and Exchange Commission, or SEC, on Thursday. If approved, the fund will offer institutional investors another way to long the flagship cryptocurrency without the volatility of owning it outright.
Kevin Rooke reported Friday that the Morgan Creek-Exos Risk Management Bitcoin Fund has been filed with U.S. regulators. The fund intends to provide direct exposure to Bitcoin with inbuilt mechanisms to reduce allocation when quantitative signals turn negative.
As Rooke reports, the fund “handles technical details around trade, transfer, and custody of Bitcoin.”
Founded by Mark Yusko, Morgan Creek Capital Management provides alternative investment products. The firm operates a digital asset division that specializes in blockchain technology and Bitcoin investments.
Exos Financial is a business-to-business institutional finance platform that has been built to deliver all of the services of a traditional investment bank. The firm originates, trades and invests in alternative assets.
This story is still in development.
Source: , CoinTelegraph
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