Bitcoin Futures Are Now Included In WisdomTree’s Fund.


WisdomTree, an asset manager with over $76 billion in assets under management, said on Thursday that its commodities-focused Managed Futures Strategy exchange-traded fund now has bitcoin futures exposure (ETF).

WisdomTree’s proposal for a spot bitcoin ETF was denied by the Securities and Exchange Commission (SEC) a month ago. The business has since refiled and again reigning .

Last October, WisdomTree announced plans to increase the Managed Futures Strategy Fund’s bitcoin futures exposure to up to 5%. The Managed Futures Strategy Fund was founded in 2011 and now has $164 million in assets. Bitcoin futures contracts have now received a 1.3 percent allocation from the corporation. The fund has no immediate intentions to invest in bitcoin.

“Our opinion was that bitcoin is fulfilling a role comparable to gold and why people purchase gold in commodities strategies.” Jeremy Schwartz, global chief investment officer of WisdomTree, said

With bitcoin futures, WisdomTree is pursuing a long-term investing strategy. “At this time, we are not shorting bitcoin futures.” Given the unpredictability, we believe there is a higher risk,” Schwartz added.

US SEC Denying Wisdomtree’s Spot BTC ETF Approval

The Securities and Exchange Commission (SEC) has cleared the way for bitcoin futures funds to go public. In October, the ProShares Bitcoin Strategy ETF and the Valkyrie Bitcoin Strategy ETF became live, and the following month, VanEck launched a fund.

Spot bitcoin ETFs, on the other hand, have experienced far more regulatory opposition. WisdomTree and VanEck’s applications were both refused, while the SEC’s decision on NYDIG’s spot ETF submission was postponed this week. Gary Gensler, the chairman of the Securities and Exchange Commission, has stated several times that he favours a bitcoin futures ETF over a fund with direct bitcoin exposure.

A user showed his dissatisfaction on US SEC for not approving Bitcoin ETFs. He shared a post embedding the rejection letter for Wisdometree’s bitcoin ETF on the microblogging site.

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