Bank of Russia to ban mutual funds from investing in Bitcoin

[ad_1] The Russian central bank continues its strict policies regarding the cryptocurrency industry, now officially banning mutual funds from investing in cryptocurrencies like Bitcoin (BTC). On Dec. 13, the Bank of Russia published an official statement on regulating investment opportunities by mutual investment funds. Despite expanding the number of assets available for investment by mutual funds, the document prohibits fund managers from buying cryptocurrencies as well as “financial instruments whose value depends on prices of digital assets.” The statement emphasizes that mutual funds are not allowed to provide crypto exposure…

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Mudrex launches DeFi mutual fund model for retail investors

[ad_1] Cryptocurrency asset management firm Mudrex has announced the launch of its new Coin Sets investment vehicle. The new offering allows investors to diversify their asset portfolio across a range of high-performing decentralized finance, or DeFi, assets, as well as nonfungible tokens, or NFT’s.  The niche financial model fosters the distribution of risk exposure in what is often considered a volatile marketplace, allowing investors to bet on the value proposition of an entire sector, rather than the individual potential of a single asset. The basket of assets is also rebalanced on…

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Largest Canadian Bitcoin ETF Opens to Mutual Fund Investors

[ad_1] Purpose Investments, an institutional firm with more than $12 billion under management, on Wednesday announced the launch of mutual fund units for the world’s first ETF backed and settled by Bitcoin. “We’re happy to provide another easy and secure way for Canadian investors to gain exposure to Bitcoin,” said CEO and founder Som Seif. Mutual funds that allow investors exposure to Bitcoin have risen in demand by investors worldwide this year. The Purpose Bitcoin ETF invests directly in Bitcoin allowing investors efficient exposure to Bitcoin without the associated risk…

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Bitcoin Mutual Fund Manager ProFunds

[ad_1] 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. Image source 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…

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