Bitcoin Mutual Fund Manager ProFunds

In a press release this morning ProFunds announced the launch of its Bitcoin Strategy ProFund (BTCFX). This will be the first publicly available U.S. mutual fund that generally tracks the price of Bitcoin.

On the ease of access and mass exposure that this mutual fund will provide, ProFunds CEO Michael Shapir said that “Compared to directly buying bitcoin, which may involve opening a new account with an unregulated party, this ProFund offers investors the opportunity to gain exposure to bitcoin through a form and investment method that tens of millions of investors are familiar with.”

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