This Thursday, Morgan Creek Capital, alongside Exos Financial, filed for a brand new Bitcoin (BTC) fund with the US Securities and Exchange Commission (SEC), aptly named “Exos Risk-Managed Bitcoin Fund.” Once approved by the SEC, Morgan Creek’s BTC fund adds to the now-long list of ways of how institutional investors could get a hold of the most-recognized crypto without the hassle and volatility of outright ownerships. It is also worth noting that this new fund closely follows the previous fund submitted by Morgan Creek to the SEC, The Blockchain Opportunities Fund, which managed to raise an impressive $70 million.
According to the filing, the proposed private equity fund is specifically designed to provide further Bitcoin exposure while also drastically reducing its returns’ instability. On top of that, the firm’s website notes that the fund will completely allot capital to BTC based on various positive indicators and promptly reduce or exorcize its position when it goes negative. Notably, a 20% above BTC incentive fee will be applied.
The firms associated with the new fund clearly have high regard for the currently surging crypto. This is evidenced by the fund’s website stating that Bitcoin is more than responsible for the now slew of new assets that have the potential of being the next revolutionary technology since the dawn of the internet.