Fund of Hedge Funds Launches Bitcoin Offering
An award winning fund of hedge funds with nearly $8 billion in assets under management has launched a bitcoin offering for sophisticated investors.
According to a filing with the Securities and Exchanges Commission (SEC), the SkyBridge Bitcoin Fund L.P. established this month as a limited partnership aims to promote Pooled Investment Fund Interests in bitcoin.
They don’t disclose the issuing size as they have yet to raise any funds with the minimum investment being $50,000.
As a fund of hedge funds, SkyBridge usually has shares in hedge funds and thus benefits from their performance, but bitcoin’s increasing popularity with big money is seemingly leading them to launch a bitcoin specific offer.
That follows the launch of numerous stock traded products primarily for bitcoin and ethereum, as well as the entrance of some banks which have began offering crypto services.
So leading to bitcoin in particular starting to become “part of the system” as Jefferies’ Christopher Wood recently said.
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