Morgan Creek Capital Management and Exos Financial filed a new Bitcoin (BTC) fund with the United States Securities and Exchange Commission on Thursday. If approved, the fund volition offer institutional investors another fashion to long the flagship cryptocurrency without the volatility of owning it outright.

Kevin Rooke reported Friday that the Morgan Creek-Exos Adventure Management Bitcoin Fund has been filed with U.S. regulators. The fund intends to provide direct exposure to Bitcoin with built-in mechanisms to reduce allocation when quantitative signals turn negative.

As Rooke reports, the fund "handles technical details effectually trade, transfer, and custody of Bitcoin."

In its initial marketing materials, Exos says in that location'due south a need to smooth out market volatility for institutional investors that are unaccustomed to Bitcoin's turbulence and highly technical backdrop.

According to Exos:

"The Fund will fully allocate capital to bitcoin when its indicators are positive and reduce or exit its position when its indicators turn negative."

Founded by Mark Yusko, Morgan Creek provides alternative investment products to institutional investors. The house operates a digital asset partitioning that specializes in blockchain technology and Bitcoin investments.

Every bit a business concern-to-business organisation marketplace platform, Exos is involved in securities, commercial finance and asset management services.

Institutional on-ramps into Bitcoin and other cryptocurrencies have ushered a new wave of adoption in 2020. Crypto funds, derivatives and substitution-traded products have spurred a new parabolic trend in Bitcoin'southward price.

Growing mainstream adoption has been aided past massively bullish calls from legendary investors such as Paul Tudor Jones and Stanley Druckenmiller, both of whom own Bitcoin.

Across investor adoption, corporations have also laid stake in Bitcoin this year. Information technology's estimated that corporate treasuries concur roughly 842,229 BTC, which is equivalent to $xv.seven billion in today'south value.