SEC: Risks of Mutual Funds Exposed to Bitcoin Futures Market

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SEC Division of Investment Management Staff Publishes Public Statement on Funds Registered Under Investment Company Act Investing in Bitcoin Futures Market
Friday, May 14, 2021
On May 11, the Securities Exchange Commission’s (SEC) Division of Investment Management (IM) staff issued a Public Statement (Statement) strongly encouraging any investor interested in investing in mutual funds exposed to the Bitcoin futures market to carefully consider the risks involved with such investments. IM staff emphasized, among other things, that Bitcoin is a highly speculative investment, and, therefore, investors should consider the volatility of Bitcoin and the Bitcoin futures market and the lack of regulation and potential fraud or manipulation in the underlying Bitcoin market prior to making an investment.

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