Categories: Market

The Bitcoin ProFund strategy aims to overcome regulatory hurdles for investors

The US funding administration agency ProFunds has introduced the launch of Bitcoin Strategy ProFund (BTCFX), one of many first mutual funds or ETFs to work with Bitcoin (BTC). With this service, ProFunds provides an alternate to standard strategies of holding crypto through wallets or crypto exchanges.

Michael L. Sapir, CEO of ProFunds, shared particulars on how ProFunds plans to allow funding in Bitcoin efficiency by mutual funds:

“Compared to buying Bitcoin directly, which can involve opening a new account with an unregulated party, this ProFund offers investors the opportunity to get involved in Bitcoin through a form and method. Investments tens of millions of investors are familiar with . “

While the corporate guarantees entry to conventional Bitcoin investments, BTCFX “invests primarily in Bitcoin futures contracts” and avoids any direct funding in Bitcoin. ProFunds additionally warns investors concerning the dangers of investing in crypto derivatives, citing the numerous price volatility and lack of liquidity.

Related: The U.S. authorities delves into cryptocurrency accountability with a $ 10 million bounty

The crackdown on crypto corporations has labored in favor of the United States. Cointelegraph reported earlier this month on the Biden authorities’s resolution to enhance the traceability of crypto funds.

The ruling authorities introduced it will provide $ 10 million bounties to establish the unhealthy guys accountable for cyberattacks on vital infrastructure and ransomware. The Binance cryptocurrency change has additionally been adequately screened for unlawful trading actions by the IRS and the Department of Justice.

.

.

CoinX

Recent Posts

Gate.io Launches USDE Financial Products with Annualized Returns of Up to 54%, Ushering in a High-Return Era for Stablecoin Investments

Nov 18th, Panama - Gate.io, a global leader in digital asset trading, has officially unveiled…

50 minutes ago

Bitdeer Convertible Notes Worth $360 Million Offered for Expansion Efforts

The Bitdeer convertible notes offer a 42.5% conversion premium, allowing conversion into cash with the…

1 hour ago

Sui Foundation Enters into Strategic Partnership with Franklin Templeton Digital Assets

Grand Cayman, Cayman Islands, 22nd November 2024, Chainwire

2 hours ago

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

3 hours ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

5 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

5 hours ago

This website uses cookies.