Bitcoin

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Grayscale Bitcoin Trust

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  <li>Patient Capital Management shifts from Grayscale to Bitcoin ETPs diversify investment portfolio.</li>
  <li>An updated SEC filing shows that the firm has replaced Grayscale Bitcoin Trust with Bitcoin ETPs.</li>
  <li>The firm plans to allocate $200 million to Bitcoin ETPs.</li>
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 <p>Patient Capital Management, a prominent asset management firm with $1.4 billion in assets under management, has updated its investment strategy pivoting from the Grayscale Bitcoin Trust to Bitcoin Exchange Traded Products (ETPs).</p>
 <p>The move reflects a significant shift in its approach to digital asset exposure.</p>
 <h2 id="patient-capital-management-filling-with-the-sec">Patient Capital Management filling with the SEC</h2>
 <p>Patient Capital Management made a filing with the U.S. Securities and Exchange Commission (SEC) on March 11 expanding its investment horizon by replacing its exclusive reliance on the Grayscale Bitcoin Trust.</p>
 <p>The firm now aims to allocate up to 15% of its net assets to Bitcoin ETPs, broadening its exposure within the rapidly evolving cryptocurrency market.</p>
 <p>This strategic shift is not only about diversification but also a proactive response to the changing regulatory landscape.</p>
 <p>The updated prospectus emphasizes “cryptocurrency regulatory risk” over “Bitcoin risk,” underlining the firm’s awareness of the evolving legal and regulatory framework governing digital assets.</p>
 <h2 id="replacing-all-grayscale-btc-trust-with-bitcoin-etps">Replacing all Grayscale BTC Trust with Bitcoin ETPs</h2>
 <p>The amendment replaces all references to the Grayscale Bitcoin Trust with mentions of Bitcoin ETPs, signifying Patient Capital Management’s departure from a single investment vehicle to a diversified approach.</p>
 <p>The move is fueled by a desire to stay competitive and responsive to the dynamic cryptocurrency investment landscape, where institutional players are increasingly seeking exposure through various financial instruments.</p>
 <p>The filing reveals Patient Capital Management’s intent to invest up to $200 million in Bitcoin ETPs, showcasing a substantial commitment to the cryptocurrency space. The firm’s decision aligns with the prevailing trend where institutional investors seek cost-effective and flexible investment options beyond traditional vehicles like the Grayscale Bitcoin Trust.</p>
 <p>This shift also sheds light on the fee considerations among institutional investors. While Grayscale’s Bitcoin Trust maintains an annual management fee of 1.5%, newer entrants like VanEck and Ark Invest offer lower fees, prompting asset managers like Patient Capital Management to explore more cost-efficient options in the Bitcoin ETP landscape.</p>
 <p>Patient Capital Management’s move comes at a time when <a rel="noopener noreferrer nofollow" title="Bitcoin ETF" href="https://thebittimes.com/tag/bitcoin-etf.html">Bitcoin ETF</a>s have gained traction, surpassing $58 billion in total net assets within their first two months.</p>
 <p>The recent Bitcoin price surge to $73,000 and its elevation to the eighth-largest asset globally underscore the growing prominence of digital assets in the global financial market.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/patient-capital-management-ditches-grayscale-bitcoin-trust-for-bitcoin-etps-tbt82393.html">https://thebittimes.com/patient-capital-management-ditches-grayscale-bitcoin-trust-for-bitcoin-etps-tbt82393.html</a></p>

Patient Capital Management ditches Grayscale Bitcoin Trust for Bitcoin ETPs

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TheBitTimes

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