Bitcoin-Only Private Funds

Bitcoin-Only Private Funds provide exposure to bitcoin (BTC), the native token of the Bitcoin blockchain.

By investing in a bitcoin-only private fund, investors gain exposure to bitcoin while avoiding the hassles (and reducing the cost) of buying, storing and safekeeping bitcoin itself

Bitcoin-Only Private Funds are typically structured as Limited Partnerships or LLCs and are offered only to Accredited Investors through an Offering Memorandum or Private Placement Memorandum. In some cases, the funds may be structured as trust vehicles allowing investors to directly purchase shares of the trust from the trust. These shares may be eligible for sale in the public market (with an accompanying premium or discount) after a six- or 12-month holding period. The minimum investment is typically $25,000 or more. Potential investors should ask about the fund’s subscription frequency, redemption availability/frequency, notice period for redemptions, management fees, placement fees, incentive fees (e.g., profit participation or carried interest) and tax reporting (Schedule K-1).

Opportunities From These Leading Firms

Simply click on their name or logo to learn more.

Skybridge

Skybridge Bitcoin Fund L.P. was formed in 2020 and is managed by SkyBridge Capital. The minimum initial investment is $25,000. Fidelity Digital Asset Services serves as custodian.

Bitwise

Digital asset management firm Bitwise Investment Advisers sponsors the Bitwise Bitcoin Fund. The fund’s inception date was December 2018 and the minimum investment is $10,000. Fidelity Digital Asset Services serves as custodian.

Pantera

Pantera Bitcoin Fund launched in 2014 as the first U.S. bitcoin fund. It offers daily liquidity and a comparatively low fee structure. Pantera Bitcoin Fund is a Cayman-registered offering available to both U.S. and non-U.S. investors.

Galaxy

Galaxy Bitcoin Fund LP is sponsored by Galaxy Fund Management, as are Galaxy Institutional Bitcoin Fund LP and Galaxy Institutional Bitcoin Fund Ltd. The fund has a minimum investment of $25,000.

BlockFi Bitcoin Trust
FS NYDIG Select Bitcoin Fund LP
Grayscale Bitcoin Trust (private placement)

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