SecondMarket Will Open Up Private Bitcoin Fund to All Investors

SecondMarket Will Open Up Private Bitcoin Fund to All Investors

SecondMarket is planning to open up its private bitcoin investment fund to ordinary investors. The change should be in place by the fourth quarter of 2014, the Wall Street Journal reports. SecondMarket launched its Bitcoin Investment Trust (BIT) last September, but it was reserved for private investors with $1m in assets and incomes above $200,000. The trust buys and sells bitcoins and allows investors to place bets on the value of bitcoin without owning any coins directly. The company currently has $54m in assets under management. SecondMarket now seems to be looking to expand the fund by....


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Quotes

Bitcoin is the cautious expression of a rebellious identity. Using Bitcoin is an effete act of rebellion, a week resistance like wearing a hoodie or getting a tattoo that's well covered by your work clothes.

W. Ben Hunt - Chief Risk Officer of Salient Partners