In this week's fund news, Cerulli predicts direct indexing's rise, ProShares and Invesco bitcoin futures ETFs may start trading next week, RadiantESG selects STP for operations, and Moneta hires a new head of alternatives.

The proposals by ProShares and Invesco Ltd. are based on futures contracts and were filed under mutual fund rules that SEC Chairman Gary Gensler has said provide “significant investor protections.” 

The ARK 21Shares Bitcoin Futures Strategy ETF, ticker ARKA, plans to invest in Bitcoin futures contracts that trade on commodity exchanges.

JPMorgan CEO Jamie Dimon reiterated his personal view that Bitcoin is "worthless" at the Institute of International Finance annual membership meeting.

Family offices made up 4.2% of the roughly 23,000 venture capital deals worldwide this year through Aug. 31, more than double their share a decade ago.

A product from ProShares could be first to get the SEC's blessing.

In this week's fund news, cryptos collide with the insurance world and other developments, RetireOne brings novel unbundled annuity to fee-based advisors, and VanEck's newest moat ETF adds an ESG screen.