31 Dec '13, 8pm

Fortress Investment Group to Launch Bitcoin Fund

Fortress Investment Group to Launch Bitcoin Fund

New York City-based Fortress Investment Group, a publicly traded company, is reportedly planning to launch a bitcoin investment fund. It’s being reported that the investment vehicle may be an unlisted Exchange Traded Fund (ETF). It appears that there might be some association between Fortress’s effort and that of San Francisco-based Pantera Capital. Pantera, which has as clients some Fortress executives, has filed with the Securities and Exchange Commission (SEC) an investment advisor entity called Pantera Bitcoin Advisors, LLC. The filing shows Pantera Capital as the owner of the LLC, with Pantera principal Dan Morehead as its CEO. Listed as a hedge fund, it shows that its total value at the filing date of December 4 was $147m, with 26 investors contributing at least $250,000. That would make the fund much larger than that of SecondMarket’s Bitcoin Investment Trust. As Co...

Full article: http://www.coindesk.com/fortress-investment-group-launch-...

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Fortress Investment Group Is Launching A Bitcoin Fund by @rjwile

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