Bitcoin investment trust
New York-based firm SecondMarket is launching its first U.S.-based investment vehicle exclusively devoted to digital currency Bitcoin. The Bitcoin Investment Trust will be structured as an open-ended private trust whose shares will only be available to accredited investors through the SecondMarket platform. SecondMarket is seeding the trust with a USD2m investment.
SecondMarket founder and CEO Barry Silbert says, “We have decided that Bitcoin is the next asset class that we want to use our resources and tech platform to make more acceptable to a broader group of investors.” Silbert has also been personally investing in Bitcoin-related startups, separate from The Bitcoin Investment Trust.
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