ProFunds launches the first publicly available US mutual fund with a focus on Bitcoin

Bitcoin Strategy ProFund (BTCFX) is the name of a new and at the same time the first fund of its kind that offers investors a comfortable investment in BTC.

ProFunds launches the first publicly available US mutual fund with a focus on Bitcoin

After we only recently learned that Stone Ridge Asset Management is establishing its new "Bitcoin Strategy Fund", we have another big player with a similar interest.

ProFunds, which together with its affiliates manages approximately $60 billion in worldwide assets, has announced the launch of the Bitcoin Strategy ProFund (BTCFX).

As stated in the official report, this is a truly exceptional event in this case, as it is the first publicly available Bitcoin US mutual fund.

Cryptocurrency has become a significant asset class, and our new Bitcoin Strategy ProFund provides investors access to a bitcoin strategy through a mutual fund investment,– 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. says ProFunds CEO Michael L. Sapir

This innovative fund is thus largely focused on those clients who do not want to manage their investments in Bitcoin through other counterparties such as crypto exchanges, but prefer a convenient and safe way.

For more than 20 years, ProFunds has been offering classic broad-market index funds as well as leveraged and inverse funds that track a variety of complex assets, including broad-market and sector-based domestic and international equity, fixed income, commodity, currency, CDS and other benchmarks.

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