“SecondMarket is spinning out its Bitcoin activities into a stand-alone company that eventually will include a New York-based exchange for the cryptocurrency. The new company will receive from SecondMarket: Digital currency asset management. This includes Bitcoin Investment Trust, the first-ever U.S. investment vehicle dedicated exclusively to Bitcoin. It sort of acts like a currency ETF, and was launched last fall. Trading desk: SecondMarket has an 11-person Bitcoin trading team that originally was just a market-maker, but now is on both sides after Mt. Gox began disintegrating. $$: SecondMarket will contribute approximately $20 million in cash and Bitcoin assets.”
http://finance.fortune.cnn.com/2014/02/25/secondmarket-bitcoin-exchange/
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