Another firm is joining the bitcoin trust sector, as the California fund manager Arca has filed a registration with the U.S. Securities and Exchange Commission (SEC) for its Arca Accredited Investor Bitcoin Trust. The trust will compete with a number of competitors including Grayscale’s popular bitcoin investment vehicle GBTC.
Arca Files With the US SEC to List Its Accredited Investor Bitcoin Trust
The finance manager Arca has filed a Form D registration with the U.S. SEC in order to provide investors with a new bitcoin trust offering. The fund will be called the “Arca Accredited Investor Bitcoin Trust” and it will be taking investments of $25k or more, according to the Arca filing. This is half the value of Grayscale’s GBTC minimum investments set at $50k.
Arca has other crypto fund products and the Arca U.S. Treasury Fund. The fund is “a closed-end fund registered under the Investment Company Act of 1940 issuing shares as digital…