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Bringing you news, views and analysis since 2013

WisdomTree adds bitcoin into its managed futures ETF

WisdomTree has announced that the WisdomTree Managed Futures Strategy Fund (WTMF) has added an approximate 1.5 per cent allocation to bitcoin futures contracts. WTMF will not invest in bitcoin directly.
 

In addition to offering exposure to equity, commodity, currency and rates through futures contracts, WTMF writes that it is now the first systematic trend-following ETF strategy providing investors access to bitcoin futures exposure. The fund seeks to achieve positive total returns in rising or falling markets that are not directly correlated to broad market equity or fixed income returns. 
 
The firm writes that as bitcoin is a scarce and structurally deflationary asset, WisdomTree’s allocation to bitcoin futures seeks to provide a hedge against inflation and returns uncorrelated with equities and fixed income, allowing the Bitcoin futures to contribute meaningfully — but not dominate — the fund’s volatility profile. 
 
This update to WTMF comes just a few months after the WisdomTree Enhanced Commodity Strategy Fund (GCC) became the first ETF to provide exposure to crypto assets, adding an approximate 3 per cent allocation to bitcoin futures in October and continuing with a limited allocation to bitcoin futures today. 
 
The CBOE also recently filed a new 19b-4 listing application with the SEC for a spot Bitcoin ETF to be made available from WisdomTree, which is the first proposed spot bitcoin ETF to voluntarily apply certain provisions of the 1940 Act to the planned operations, infrastructure and oversight of a spot bitcoin ETF in order to provide investors with some of the significant protections and transparency of the 1940 Act.
 

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