Bitcoin futures ETFs are getting crowded as AdvisorShares joins with an SEC filing

AdvisorShares is the latest issuer to file for a Bitcoin strategy ETF that takes advantage of the futures market. AdvisorShares has filed a prospectus with the U.S. Securities and Exchange Commission for the AdvisorShares Managed Bitcoin ETF: CRYP. Per the filing of CRYP, the ETF “seeks to achieve its investment objective by investing all or substantially all of its assets in exchange-traded futures contracts on bitcoin and short duration fixed income securities and cash or cash equivalent investments.” It should be understood that CRYP does not invest directly in or hold Bitcoin (BTC-USD) directly. AdvisorShares joins the list of other issuers such as Galaxy Digital, VanEck, Valkyrie, Invesco, and ProShares, who have submitted paperwork with the SEC to launch a Bitcoin strategy ETF. Moreover, CRYP will be an actively managed ETF that has yet to receive a formal expense ratio. Daily price action: Bitcoin (BTC-USD): +2.24% on Monday’s trading session. Bitcoin (BTC-USD) continues its one-month winning streak as it