Hedge Fund GABI Makes First Bitcoin Purchase via DigitalBTC
The Global Advisors Bitcoin Investment Fund (GABI) has completed its first initial offer period and made its first purchase of bitcoin, according to the company. While the amount of cyptocurrency purchased has not been announced, it is clear that the fund delayed the move to make the most of the current decrease in the bitcoin price. GABI is incorporated in the island of Jersey and is possibly the world's first regulated bitcoin investment fund. Transparency and compliance. GABI made the decision to execute its first bitcoin purchase via digitalBTC, Australia's first publicly listed....
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Here's some pretty interesting news coming from the news wires. It's been freshly announced that the Global Advisors Bitcoin Investment Fund (GABI) has deployed their fund assets into bitcoins after completing an initial offering period in early September. The price of bitcoin is low. Our last quote was $402 USD at Bitstamp, which means the timing if this is incredible for the fund. The press release issued today notes that the bitcoin purchase was done with digitalBTC, a digital currency solutions company with locations in Boston, Massachusetts, Tinton Falls, New Jersey, and outside in....
In July, a hedge fund in Jersey issued a press release announcing that it had become the first regulated fund to deal in bitcoin. The Jersey fund, called Global Advisors Bitcoin Investment Fund (GABI), later said it was seeking $200m in assets under management. In subsequent months, mentions of GABI have been regularly prefaced by its status as the first regulated bitcoin hedge fund by everyone from the BBC to Newsweek. Now another hedge fund is challenging GABI's claim. Crypto Currency Fund, managed by Timothy Enneking, says that it, not GABI, should rightfully be referred to as the....
Mega bank HSBC has reportedly decided to cut ties with a hedge fund that's planning to bring the first regulated bitcoin investment fund over concerns of money laundering, BBC reported Monday. Mr. Daniel Masters of Global Advisors (the hedge fund in question) has said that this situation threatens plans to make the Island of Jersey (where the fund is based) a place where cryptocurrency businesses can flourish, adding that HSBC's decision in the matter is a "step in the wrong direction for Jersey." The fund is called the Global Advisors Bitcoin Investment Fund, or GABI. Meanwhile, HSBC told....
While bitcoin prices have edged up sharply ahead of the SEC's upcoming decision on the long-in-the-works Winklevoss Bitcoin ETF, at least one major hedge fund is selling off into the rally. In an email sent today to its mailing list, Global Advisors Bitcoin Investment Fund (GABI), a Jersey-based investment vehicle that buys and sells bitcoin on behalf of investors, said it believes the market is now signaling a potential approval too strongly for its taste. Ultimately, GABI said it believes "it does not seem likely" that investors Cameron and Tyler Winklevoss will receive....
It's been a bumper year for bitcoin hedge funds. While the entry of big money from Wall Street into the bitcoin markets is discussed with equal measures of glee and rage in the community, some big-money financiers are already making moves in the cryptocurrency markets. We're not talking about Barry Silbert's Bitcoin Investment Trust or the Winklevoss twins' bitcoin index fund. No, there's a new class of funds running money for wealthy individuals, families and institutions, aimed to get these sophisticated investors into the bitcoin game. Here's a roundup of the new bitcoin funds so far:....