Crypto hedge fund Arca is launching a bitcoin trust product, according to documents filed Thursday with the U.S. Securities and Exchange Commission (SEC). The product, which launches with $100,000 sold so far, appears to be the California-based digital asset manager’s first foray into bitcoin offerings. Arca’s previous products banked on small- to mid-cap cryptos and a U.S. Treasurys token called ArCoins that served as a proof of concept for Ethereum-based securities. Arca joins a crowded field of asset managers aiming to woo investors who want exposure to bitcoin without directly owning the crypto themselves. ... (full story)