According to MarketsMedia, Dalia Blass, head of the US Securities and Exchange Commission's Investment Management Department, said the committee is about to approve an "unlisted closed-end fund using a Bitcoin futures strategy." In the keynote speech of the ICI Securities Law Development Conference, she said that the fund will not be redeemed daily and there will not be a potentially large liquidity demand in the short term. Fund operators have addressed concerns of regulators regarding the valuation, custody, liquidity and effective arbitrage mechanisms of digital asset-based etf. As an unlisted fund, its pricing does not depend on market makers or effective arbitrage mechanisms. The initial size of the fund is capped at $ 25 million, and it plans to address potential market manipulation by allowing only registered investment advisers to enter the fund, limiting the fund's size and future growth, and including significant risk disclosure.