26 Sep '13, 12am

SecondMarket Launches First U.S. Bitcoin Fund

SecondMarket has launched the first U.S.-based bitcoin fund, which allows investors to buy into the value of bitcoin without having to buy the digital currency directly. The Bitcoin Investment Trust is an open-ended private trust that invests only in bitcoin. The fund is raised by Alternative Currency Asset Management , a wholly-owned unit of SecondMarket, which is acting as the broker-dealer for the fund. SecondMarket, which offers a variety of services to buy into illiquid private assets, itself has also invested a $2 million seed investment into the fund. Institutions and accredited individual investors can buy into the fund. Typically, buying bitcoin, particularly in large amounts, requires buying, storing and securing the currency (one offline storage method is called “cold storage” ). But the BIT fund will enable investors to avoid those issues because they will not ...

Full article: http://www.forbes.com/sites/tomiogeron/2013/09/25/secondm...

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First Bitcoin investment fund launches

finance.fortune.cnn.com 26 Sep '13, 12am

SecondMarket launching first U.S.-based investment vehicle exclusively devoted to Bitcoin. FORTUNE -- Bitcoin has gotten a...

First Bitcoin investment fund launches

finance.fortune.cnn.com 26 Sep '13, 12pm

SecondMarket launching first U.S.-based investment vehicle exclusively devoted to Bitcoin. FORTUNE -- Bitcoin has gotten a...

SecondMarket launches Bitcoin Investment Trust,...

coindesk.com 26 Sep '13, 12am

Private investment vehicle the Bitcoin Investment Trust (BIT) will today (26th September) begin raising capital on SecondM...

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marketwatch.com 26 Sep '13, 12am

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