“Fortress Investment Group (FIG) is prepping its own Bitcoin fund, which likely will be much larger than the SecondMarket offering.  My understanding is that the Fortress effort will be something like an unlisted currency ETF (similar to Bitcoin Investment Trust), with Fortress also perhaps raising a separate vehicle to back Bitcoin-related startups. And there likely is some relationship to a new Bitcoin-related fund raised by Pantera Capital, a San Francisco-based hedge fund whose clients are known to include several Fortress executives. Pantera founder Dan Morehead declined to discuss his Bitcoin efforts but an SEC filing indicates that he already has raised around $150 million for Bitcoin vehicle.”

http://finance.fortune.cnn.com/2013/12/31/fortress-is-forming-a-bitcoin-fund/

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“Silbert says the BIT is in conversations with ‘several major banks’ and he expects the trust to be an approved product on their wealth-management platforms within the first half of 2014.  The second wave will be hedge funds and other institutional investors. ‘The principals that work at all those firms are starting to invest personally in the BIT,’ Silbert says. Anecdotally, he adds, it’s clear they are investing in the Bitcoin market through other platforms as well. With traders, portfolio managers and executives all gaining interest, it appears to be only a matter of time before their firms follow suit and take a position in the digital currency.  The third wave will be Wall Street banks themselves.”

http://www.entrepreneur.com/article/230346

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