United States funding administration agency VanEck has filed for a brand new Bitcoin (BTC) futures mutual fund with the Securities and Change Fee.

In line with a prospectus filed Monday, the brand new “Bitcoin Technique Fund” will put money into Bitcoin futures contracts in addition to pooled funding autos and exchange-traded merchandise that present publicity to Bitcoin. The fund won’t put money into Bitcoin or different cryptocurrencies straight.

The fund may have publicity to sure Bitcoin futures by its fully-owned subsidiary working within the Cayman Islands. “The subsidiary has the identical funding goal because the fund and can observe the identical basic funding insurance policies and restrictions, besides that in contrast to the fund, it might make investments with out restrict in Bitcoin futures,” the prospectus notes.

The fund’s portfolio shall be managed by Gregory Krenzer, the deputy portfolio supervisor for the VanEck Commodity Index Technique and head of lively buying and selling with in depth expertise in commodities, pure useful resource equities and rising markets. Krenzer has been with the Van Eck Associates Company since 1994 and has over 25 years of expertise within the worldwide and monetary markets.

Associated: SEC warns of Bitcoin futures risks in mutual funds

The newest submitting comes just some days after the SEC delayed approval of VanEck’s Bitcoin ETF, VanEck Bitcoin Belief, for the second time this 12 months. The SEC is in search of extra public feedback, extending the assessment interval by 45 days. 

Since Cameron and Tyler Winklevoss first attempted to get SEC approval for a Bitcoin ETF again in 2017, the securities regulator has rejected quite a few efforts to launch such a product and has but to approve a BTC ETF up to now. In the meantime, different nations like Canada have been shifting ahead with Bitcoin ETFs, with 3iQ and CoinShares’ Bitcoin ETF going live on the Toronto Stock Exchange in April 2020.