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New Bitcoin Mutual Fund Leans on Futures to Give Crypto Exposure

July 28, 2021, 5:22 PM

Follow @crypto Twitter for the latest news.

There’s a new way to invest in Bitcoin without actually buying any Bitcoin.

ProFunds, a Maryland-based firm, on Wednesday launched what it says is the first publicly available mutual fund correlated to the value of the largest cryptocurrency. The Bitcoin Strategy ProFund invests in Bitcoin futures contracts and aims for results that track the price of the digital currency — before fees.

It’s the latest financial product offering exposure to Bitcoin, as firms clamor to create ways for clients to grab a piece of the once-obscure digital asset.

More than a dozen investment firms have filed to ...