ProFunds Launches The First Bitcoin Strategy Mutual Fund

American investment management company ProFunds announced the official issuance of the first Bitcoin ETF: Bitcoin Strategy ProFund. This is the first Bitcoin ETF officially opened to investors, but it is worth noting that although it is a Bitcoin ETF, this fund does not directly invest in Bitcoin, but invests in Bitcoin's futures contract products. ProFunds CEO Michael L. Sapir said: “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.”