A secretive yet reportedly highly lucrative hedge fund now has the green light to invest in Bitcoin (BTC) futures markets.

In a brochure originally dated March 30, the United States regulator the Securities and Exchange Commission (SEC) confirmed that Renaissance Technologies’ Medallion Funds now have access to the burgeoning Bitcoin futures scene.

Medallion Funds gets BTC futures go-ahead

According to the literature, Renaissance will offer access to cash-settled contracts from CME Group, one of the two oldest-running Bitcoin futures providers.

“The Medallion Funds are permitted to enter into bitcoin futures transactions, which Renaissance will limit to cash-settled futures contracts traded on the CME,” it states.

Renaissance’s $10 billion hedge fund recently gained notoriety in the press, having gained 24% year to date despite the tumultuous volatility plaguing traditional markets over coronavirus.

According to investors speaking to the Wall Street Journal on Friday, the month of March, which even saw Bitcoin plunge 60% in just one day, still managed to deliver 9.9% returns for the fund.

Futures resurgence continues

At the same time, Bitcoin futures have been witnessing a return to form after suffering reduced participation in previous weeks.

According to the most recent data from CME, its products reached all-time highs in terms of unique accounts last month, a combined annual growth rate of 161%.

CME Bitcoin futures accounts. Source: Hunter Horsley/ Twitter

Nonetheless, reactions to the Medallion Funds announcement underscored continued distrust of institutional investors among Bitcoin supporters. As Cointelegraph reported, suspicions last year focused on futures contract settlements artificially pressuring the Bitcoin price.

Others, such as stock-to-flow creator PlanB, have publicly refuted the idea that futures are responsible for price manipulation.