New Proposed ETF Would Mix Bitcoin Futures With Sovereign Debt
A new proposed exchange-traded fund would invest in bitcoin futures – though only as part of a larger set of investments.
Reality Shares ETF Trust, a branch of Blockforce Capital, which already launched one ETF with blockchain products, filed a Form N1-A with the U.S. Securities and Exchange Commission Monday in partnership with NYSE Arca, looking to launch the Reality Shares Blockforce Global Currency Strategy ETF.
If approved, the fund would invest in a portfolio which includes “High-quality, short-term sovereign debt instruments listed for trading on U.S. exchanges and denominated in U.S. dollar, euro, British pounds sterling, Japanese yen and Swiss francs,” as well as bitcoin futures, money market mutual funds and/or other cash equivalents, according to the form.
“The Adviser initially constructs the Fund’s portfolio by investing approximately an equal-weight of 15 [percent] of the Fund’s net assets in Fixed Income Securities denominated in each Fiat Significant Global Currency; 15 [percent] of the Fund’s net assets representing notional exposure in Bitcoin Futures and 10 [percent] of the Fund’s net assets in Money Market Instruments for margin and/or cash management purposes, each as measured at the time of purchase.”
Initially, Reality Shares plans to invest in the bitcoin futures offered by Cboe and CME, though it might look for other bitcoin futures products in the future.
Nikhilesh De’s original article for coindesk.com reduced by 52%
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