Fortress Investment Group Reportedly Starting a Bitcoin Fund

Fortress Investment Group Reportedly Starting a Bitcoin Fund

We already know that SecondMarket has launched The Bitcoin Investment Trust this year, but it looks like another financial group is looking to get a piece of the bitcoin action. It is being reported that Fortress Investment Group is starting a bitcoin fund, which is said to be larger than SecondMarket's current offering. In late October, a top hedge fund manager at the company - Michael Novogratz - publicly endorsed the digital currency, so the move here isn't that surprising. Details on this particular story aren't quite clear, and there's an extreme lack of information on the matter. The....


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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,....

Fortress May be First Public Company to Own Millions of Dollars in Bitcoins, Discloses $20m Worth

Fortress Investment Group purchased $20m worth of bitcoins last year, according to a recent filing with the SEC. Back in December it was rumoured that Fortress had plans to launch a bitcoin investment fund. The news was first reported by CNN, but it could not be confirmed until now. Fortress is said to be developing a new investment vehicle based on bitcoin which is expected to be an unlisted Exchange Traded Fund (ETF). The move appears to have been connected to San Francisco-based Pantera Capital. Pantera then registered an investment advisor entity called Pantera Bitcoin Advisors LLC and....

Fortress, Benchmark and Ribbit Team up with Pantera for Bitcoin Fund

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Fortress Investment Group Puts $20 Million Into Bitcoin

An SEC filing from last year shows that the Fortress Investment Group previously purchased $20 million worth of bitcoin. The company is reportedly preparing themselves for a launch of an Exchange Traded Fund (ETF). At the end of 2013, the group reported having on the order of $16.26 million worth of bitcoin holdings, reporting over $3.7 million in losses or unrealized gains, according to bitcoin news website CoinDesk. When you consider how much the price have dropped since the end of last year, it's very likely the company's losses are, at this juncture, even greater. All told, this makes....

Fortress and Pantera Investment Fund Focus On 'Virtual Currencies'

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