ProFunds, a prominent provider of a wide range of mutual funds, in a press release <a href="https://www.profunds.com/news/profunds_launches_bitcoin_strategy.html" target="_blank" rel="nofollow noopener">talked </a>about how it established the Bitcoin Strategy fund today. ProFunds touts its current product as the first-ever ETF intended to give investment returns that are exactly proportionate to Bitcoin performance.
<h2>ProFunds Establishes A Bitcoin Strategy Fund</h2>
According to the ProFunds team's <a href="https://www.profunds.com/funds/bitcoin_strategy.html" target="_blank" rel="nofollow noopener">press release,</a> a new investment product, Bitcoin Strategy ProFund (BTCFX), is now accessible to American investors.

ProFunds claims its latest offering as the first-ever ETF in the United States designed to give investment returns that directly correspond to Bitcoin performance (BTC).

At the same time, ProFunds executives emphasize that the fund does not directly invest in <a href="https://www.cryptoknowmics.com/news/in-the-second-half-of-2021-bitcoin-gold-and-us-treasury-bonds-are-likely-to-beat-the-market/">Bitcoin</a> (BTC). Bitcoin Strategy ProFund (BTCFX) invests exclusively in Bitcoin (BTC) derivatives (futures contracts).

ProFunds had more than $53 billion in AUM as of 2020. Its true assets might exceed $60 billion. The business, which was founded in 1997, is widely regarded as one of the most significant participants in the ETF market.
<h2>"Tulip Bulb" Or "Significant Asset Class?"</h2>
ProFunds CEO Michael L. Sapir emphasized that Bitcoin Strategy ProFund (BTCFX) is a hybrid of traditional investment instruments and a new class of financial assets:

"Cryptocurrency has grown to be a substantial asset class, and our new Bitcoin Strategy ProFund gives investors access to a Bitcoin strategy through a mutual fund investment. 

In contrast to directly purchasing Bitcoin, which may include creating a new account with an unregulated party, this ProFund provides investors with the option to acquire exposure to Bitcoin through a form and investing technique that tens of millions of investors are acquainted with."

Other asset management giants in the <a href="https://www.cryptoknowmics.com/news/legend-investing-bitcoin-will-break-lower-according-to-mark-mobius/">United States</a>, on the other hand, are less enthused about Bitcoin as an investment vehicle.

Luke Ellis of Man Group linked cryptocurrency to the 17th-century tulip bulb craze. Tulip bulbs, according to Ellis, have evolved into intriguing "trade items."
<h2>A Little About ProFund</h2>
<a href="https://www.profunds.com/" target="_blank" rel="nofollow noopener">ProFund </a>has over 20 years of expertise administering some of the financial industry's most creative funds. ProFunds and its affiliates, founded in 1997, managing roughly $60 billion in assets for clients worldwide.

Mutual Funds Supplier ProFunds Announces a Bitcoin Strategy Fund

Today, ProFunds, a prominent provider of a wide range of mutual funds, establishes a Bitcoin (BTC) strategy fund is now accessible to American clients.

Kavya Barua is a voracious learner who is fascinated by crypto and Fintech advancements. Graduated from Janki Devi Memorial College's B.A (Hons) English program at the University of Delhi. She aspires to be a successful professional, having a keen interest in learning and achieving results.

Mutual Funds Supplier ProFunds Announces a Bitcoin Strategy Fund

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