Bitcoin Investment Trust Inches Away from Becoming World’s First Bitcoin Investment Fund

Bitcoin Investment Trust (BIT) is all set to become the world’s first Bitcoin investment fund, the Wall Street Journal reports.
According to the available information, the Barry Silbert-led trust has gone through a smart route to obtain a regulator license for trading on an electronic platform, managed by OTC Markets Group Inc. The company reportedly exploited a rule that allows private fund holders to sell their shares after the lockup period of 12 months. This subsequently allowed them to make its long-held shares available to investors, which subsequently simplified their process to obtain approval from the Financial Industry Regulatory Authority (FINRA) as well.

This post was published at NewsBTC on Mar 2, 2015.