Bitcoin Investment Trust Hires Designated Advisor for Disclosure

By May 6, 2015Bitcoin Business
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Bitcoin Investment Trust Hires Designated Advisor for Disclosure

One of the most popular bitcoin investments and the first publicly-traded bitcoin fund, Bitcoin Investment Trust (BIT), recently hired Merriman Capital Inc. as its Designated Advisor for Disclosure. Merriman Capital will work with BIT to gain OTCQX guidance, marketplace interaction, disclosure of material information and periodic professional reviews.

“We are very pleased to add the Bitcoin Investment Trust to our trading platform,” said CEO of Merriman Capital Jon Merriman. “This is a groundbreaking product from the highly entrepreneurial team at Grayscale Investments. We are very excited to be involved at the front end and throughout.”

Bitcoin Investment Trust Plans

Currently, Bitcoin Investment Trust acts as an investment vehicle for people seeking to profit from price changes in bitcoin. It is designed to act as a simple fund that addresses the confusing and cumbersome experience of buying, storing and safekeeping large quantities of bitcoins as an investment.

This investment fund was launched two years ago and is is sponsored by Grayscale Investments LLC (Grayscale), a wholly-owned subsidiary of Digital Currency Group and an affiliate of SecondMarket, Inc. Meanwhile, Merriman Capital also provides client support in areas of corporate finance, brokerage, development and strategy.

BIT became the first publicly-traded bitcoin fund, as it gained approval and a ticker symbol for electronic platform trading via the OTC Markets Group earlier this year.

“As the trusted authority on digital currency investing, the Grayscale team and I are excited to provide transparent and familiar structures to facilitate investment in digital currency. By trading the Bitcoin Investment Trust on OTC Markets Group’s best marketplace, OTCQX, we are able to achieve this transparency and provide bitcoin exposure to the broader investing community,” said Barry Silbert, CEO of Grayscale Investments.

Moving forward, Merriman Capital will be responsible for providing professional guidance on OTCQX requirements for BIT.

“We are very pleased to add the Bitcoin Investment Trust to our trading platform,” said CEO of Merriman Capital Jon Merriman. “This is a groundbreaking product […]

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