A net asset valuation of SecondMarket’s Bitcoin Investment Trust has pegged its value at $61.1 million USD (or 67,300 BTC) in a matter of three months.
The trust was established in order to allow institutional investors to dabble into bitcoin — and it’s clearly working. Wall Street continues to keep their watchful eyes on the digital currency.
SecondMarket CEO Barry Silbert says himself that the performance of the trust has surpassed even his expectations, with a goal to hit $10 million USD by the year’s end.
Last week, Fidelity Investments — in partnership with SecondMarket — allowed investors to put bitcoin in their IRAs. That, however, was short-lived. Fidelity came forward the following day, stating the option was only for accredited institutional investors.
A very interesting update, indeed. (via CoinDesk)