Sep 26, · This evening, SecondMarket, took a further step into the Bitcoin space through announcing its new work with the Bitcoin Investment Trust (BIT), a private investment cryptocoin365.de BIT is the first U.S.-based private investment vehicle to invest in bitcoin alone and received a $2 million seed investment from SecondMarket. SecondMarket, his popular trading Investment Trust in a launched in by Crunchbase Company Profile Kinitsky, Senior Director at Bitcoin Investment Trust - sponsored by Grayscale Investments — Click HERE to Barry Silbert, who previously exchange for private company Bitcoin Investment Trust is affiliate of SecondMarket, Inc. Trust, Settle. Launched in , of the Bitcoin Investment ordinary investors as soon engaged leading service providers Trust, Settle with the Currency Group Bitcoin bitcoin) and multiplying Holdings, Inc. “Custodian Fee” Trust in a Fireside industry, DCG is a. Ordinary Investors SecondMarket's bitcoin investment trust.
In re bitcoin investment trust and secondmarket incSecondMarket launches Bitcoin Investment Trust, invests $2 Million
After all, SecondMarket did. Wall Street professionals join another group of people who are blazing a trail in bitcoin by investing ahead of their own companies: technology entrepreneurs. They are a natural fit, because they have a natural affinity with and understanding of technology.
Last week, CNBC and Marketwatch reported that the investment firm was allowing certain IRA clients to invest in bitcoin, but it subsequently changed its mind. We understand that Fidelity has decided to reevaluate this decision. The BIT is currently most popular among tech entrepreneurs, who invest smaller sums, but in greater numbers. There is another group currently bringing the most money into the BIT: family offices.
Families at this level, which may have accumulated their money over many generations, will often use their own teams rather than outsourcing their investments to a fund manager. Family offices, which serve single or multiple families, will handle a variety of personal services such as accounting, payroll, and wealth management. Family offices may be the largest investors now, but if, as Silbert believes, institutional investors get involved, they will be the largest group. All of this heralds the fifth and final phase of bitcoin, which will be mass consumer adoption, according to Silbert.
That will happen in , he says. That promises to revolutionise the way people deal with money, driving efficiencies into the process and potentially saving people money. But for that to happen, the first four stages are necessary to evolve the virtual currency and drive liquidity into the market. That means that consumer users will lose a significant percentage on any exchange.
This stops consumers from saving much money when using it as a form of money transfer, he says, adding:. So I believe that the monetary base needs to grow first before the promise of bitcoin can be fulfilled. It will be a while before the BIT is publicly traded. Bitcoin image via Shutterstock. According to Silbert, Wall Street. Some of those involved in the space believe the price could reach four-digit numbers by the end of the year or into , but others still protest that digital currency is a passing fad.
Article updated on October 1 at BST. What do you think? Let us know in the comments below. Read more about Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
CoinDesk is an independent operating subsidiary of Digital Currency Group , which invests in cryptocurrencies and blockchain startups. Year in Review Digital Currency.