## [# 2nd Bitcoin Mutual Fund Debuts](/sections/bitcoin-crypto/2nd-bitcoin-mutual-fund-debuts)
# 2nd Bitcoin Mutual Fund Debuts
What that means for prospects of a bitcoin ETF.
[](/contributors/dan-mika)
[By Dan Mika](/contributors/dan-mika)
Aug 17, 2021
Edited by: Dan Mika
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Cboe Vest launched its own [Bitcoin ](https://www.etf.com/bitcoin-crypto/reports/BTC)mutual fund, a move that may provide a track record for regulators to scrutinize as they mull approval of a Bitcoin ETF.
The Cboe Vest Bitcoin Strategy Managed Volatility Fund (BTCVX) launched Monday, and tracks Bitcoin futures, with active managers moving assets between contracts and cash investments based on expected volatility.
BTCVX is the second mutual fund tracking Bitcoin in the U.S. The Bitcoin Strategy ProFund (BTCFX) was the first to market when it launched in late July.
FundIssuerFiling DateSEC FilingProShares Bitcoin Strategy ETF
ProShares Advisors
8/4/2021
[Link](https://www.sec.gov/Archives/edgar/data/1174610/000168386321004445/f9424d1.htm)Invesco Bitcoin Strategy ETF
Invesco Capital Management
8/4/2021
[Link](https://www.sec.gov/Archives/edgar/data/1418144/000119312521236682/d209327d485apos.htm)Bitcoin Strategy ETF
VanEck8/9/2021
[Link](https://www.sec.gov/Archives/edgar/data/1137360/000113736021000495/combinedbitcoinstrategy.htm#ic18b1e5905764aabbf295c6200c766bf_19)Valkyrie Bitcoin Strategy ETF
Valkyrie Funds
8/11/2021
[Link](https://www.sec.gov/Archives/edgar/data/0001877493/000138713121008347/valk-n1a_081121.htm)Global X Bitcoin TrustGlobal X Digital Assets7/21/21[Link](https://sec.report/Document/0000930413-21-001317/)ARK 21Shares Bitcoin ETF21Shares6/28/21[Link](https://www.sec.gov/Archives/edgar/data/0001869699/000119312521201955/d165184ds1.htm)One River Carbon Neutral Bitcoin TrustOne River Digital Asset Management5/24/2021[Link](https://sec.report/Document/0001104659-21-070846/)Teucrium Bitcoin Futures FundTeucrium Trading5/20/2021[Link](https://www.sec.gov/Archives/edgar/data/0001471824/000165495421006095/TeucriumBCFU_S1.htm)Galaxy Bitcoin ETFGalaxy Digital Capital Management04/12/2021[Link](https://www.sec.gov/Archives/edgar/data/0001855781/000095010321005427/dp149207_s1.htm)Kryptoin Bitcoin ETF TrustKryptoin Investment Advisors04/9/2021[Link](https://www.sec.gov/Archives/edgar/data/0001790727/000119312521111553/d112503ds1a.htm)Wise Origin Bitcoin TrustFD Funds Management 03/24/2021[Link](https://www.sec.gov/Archives/edgar/data/0001852317/000119312521092598/d133565ds1.htm)First Trust SkyBridge Bitcoin ETF TrustFirst Trust Advisors 03/19/2021[Link](https://www.sec.gov/Archives/edgar/data/0001852143/000144554621001542/skybridge_s1.htm)WisdomTree Bitcoin TrustWisdomTree Digital Commodity Services03/11/2021[Link](https://www.sec.gov/Archives/edgar/data/0001850391/000119312521077493/d122075ds1.htm)NYDIG Bitcoin ETFNYDIG Asset Management02/16/2021[Link](https://www.sec.gov/Archives/edgar/data/0001843021/000119312521043521/d242572ds1.htm)Valkyrie Bitcoin FundValkyrie Digital Assets 01/22/2021[Link](https://www.sec.gov/Archives/edgar/data/0001841175/000138713121001118/valkyrie-s1_012221.htm)VanEck Bitcoin TrustVanEck Digital Assets12/30/2020[Link](https://www.sec.gov/Archives/edgar/data/0001838028/000093041320002664/c100811_s1.htm)**Precursor To A Bitcoin ETF?**
As of Monday, issuers have filed with the U.S. Securities and Exchange Commission to launch no fewer than [16 ETFs](https://www.etf.com/sections/bitcoin-crypto/current-bitcoin-etf-filing-updates?nopaging=1) tracking the prime cryptocurrency. Those requests have been held up by questions as to whether investors can be protected against the volatility of digital assets, which derive their value almost solely through speculation.
Bitcoin in particular has been the poster child for hypervolatile assets, climbing from about $30,000 in late January to as much as $63,000 per token in mid-April before suffering a vicious drawdown through much of May.
BTCVX and BTCFX could end up as test cases ahead of approval of the first set of Bitcoin ETFs, because they provide exposure to the currency’s future prices, which are likely to be less volatile than a physically backed fund that’s subject to the whims of spot pricing.
SEC Chairman Gary Gensler [said as much earlier in the month](https://www.etf.com/sections/features-and-news/bitcoin-futures-etf-filings-flooding?nopaging=1) during a speech at the Aspen Security Forum, where he said an ETF that follows the agency’s rules on mutual fund construction could provide the necessary protections for investor use.
*Contact Dan Mika at* [***dan.mika@etf.com***](mailto:dmika@etf.com)*, and follow him on* [***Twitter***](https://twitter.com/DanMikaTweets)
[ Dan Mika ](/contributors/dan-mika)
Dan Mika is a reporter for etf.com. He has previously covered business for the Ames Tribune and Cedar Rapids Gazette in Iowa, and BizWest Media in… [View Bio](/contributors/dan-mika)
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