Patient Capital Management Shifts From Grayscale Bitcoin Trust to Broader Bitcoin ETPs
Summary:
Patient Capital Management has updated its prospectus filed with the United States Securities and Exchange Commission (SEC), transitioning from Grayscale Bitcoin Trust to a wider range of Bitcoin ETPs. This change expands the fund's potential investment avenues, and adjusts its risk parameters from "bitcoin risk" to the broader “cryptocurrency regulatory risk.
Patient Capital Management has updated its prospectus document, submitting the amended version to the United States Securities and Exchange Commission (SEC) on March 11. This shift signifies an adjustment from Grayscale Bitcoin Trust to a broader spectrum of Bitcoin ETPs, whilst also updating its risk parameters from "bitcoin risk" to the more general “cryptocurrency regulatory risk.” The amended prospectus clearly states: "Effectively, the Fund can now allocate up to 15% of its net assets to Bitcoin ETPs that are registered in accordance with the Securities Act of 1933. Consequently, all mentions of the Grayscale Bitcoin Trust throughout the Prospectus and Statement of Additional Information have been substituted by Bitcoin ETPs." This change allows the fund to consider all Bitcoin ETPs as a potential investment alternative, moving beyond just the Grayscale fund. As this story continues to unfold, more details will be provided as they come in.
Published At
3/12/2024 7:15:12 PM
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