How The Bitcoin Investment Trust Pushes Bitcoin Into Mainstream Finance
It's getting harder by the day for traditional investors to ignore bitcoin. Today, The Wall Street Journal reports that the Bitcoin Investment Trust (BIT - which began trading on the OTCQX market May 4 under the ticker symbol GBTC) could bring bitcoin broader acceptance by investors. Some analysts think the fund could prompt speculative interest in bitcoin like the launch of gold exchange traded funds (ETFs) in precious metals a decade ago. The Securities and Exchange Commission is currently reviewing an application for what would be the first official bitcoin ETF, the Winklevoss Bitcoin....
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ARK Investment Management LLC, which manages the first exchange-traded fund (EFT) with exposure to cryptocurrency, has almost doubled its money since September after investing in bitcoin, thanks to the virtual currency's recent price surge, according to Bloomberg News. The overall fund has gained 15% this year, which represents more than 98% of the unleveraged ETFs in the U. S. Cathie Wood, who founded New York City-based ARK in January of 2014, said Greece, China's devaluation and a U. S. interest rate increase drove price swings resulting in a capital exodus from emerging markets,....
Imagine, for a moment, you were a new member of China's growing middle class, and looking to invest your savings. You'll soon discover that without political connections, your investment opportunities are limited to a filtered selection of domestic companies; lucrative companies are listed elsewhere, and only available to foreigners, state officials, and their friends. If that's the case, Cryptor Trust might be just the opportunity for you. Cryptor Trust is not the first investment vehicle in the Bitcoin space. The Winklevoss have discussed plans to involve mainstream investors for some....
SecondMarket and Bitcoin Investment Trust Barry Silbert released an interesting tidbit of information on Twitter on Thursday afternoon. The Bitcoin Investment Trust now holds over 100,000 bitcoins, worth over $37 million at the present exchange rate. Back in December, the Trust was valued at over $60 million - though the rate of exchange at that point was much higher than it is today. Big milestone today for Bitcoin Investment Trust - now holds over 100,000 bitcoin http://t.co/nBzlaGupy4 cc @BitcoinTrust. - Barry Silbert (@barrysilbert) April 10, 2014. The Bitcoin Investment Trust was....
Grayscale Investments has launched five new cryptocurrency investment products, which are now available for subscription by eligible individual and institutional accredited investors. The company now offers a total of 14 crypto investment products. The new products are the Basic Attention Token (BAT) Trust, the Chainlink (LINK) Trust, the Decentraland (MANA) Trust, the Filecoin (FIL) Trust, and the Livepeer (LPT) Trust. They function the same as Grayscale’s other single-asset investment trusts, the company announced Wednesday. Grayscale’s other single-asset investment....
After reporting on Wednesday that Fidelity users would be able to add Second Market's Bitcoin Investment Trust to their list of securities in their Individual Retirement Accounts [IRA], we here at CryptoCoinsNews must issue a correction. Fidelity has done an apparent 180 in the time that this story has gone viral. On Wednesday, it was first reported on Marketwatch that some Fidelity clients had been allowed to invest in the Bitcoin Investment Trust through their IRAs. However, earlier today, Fidelity's director of public relations Rob Beauregard said specifically in a phone interview: We....