Digital Funds filed with the SEC to launch an S&P 500 Bitcoin 75/25 ETF. The fund would invest approx 75% of its assets in large US S&P 500 Companies and 25% in bitcoin futures contracts.
New Fund Manager
ETF Newz Says:
This is a clever strategy which will appeal to a younger audience. Investors can get the majority of gains of the SP 500 but can also have some riskier investment in Bitcoin. In reality BitCoin and the SP500 are positively correlated at least 70% of the time, when the SP500 is up BitCoin is generally up as well, this is not really a hedge.