Another company joins the Bitcoin trust industry: California-based fund manager Arca has registered with the US Securities and Exchange Commission (SEC) as an Arca-accredited investor for the Bitcoin Trust. The trust will compete with a number of rivals, including Grayscale’s popular GBTC bitcoin investment vehicle.

L’Arc files an application with the US Securities and Exchange Commission to register its bitcoin trust for accredited investors

Arca Financial Manager has filed a Form D with the U.S. Securities and Exchange Commission to make a new Bitcoin offering in trust to investors. The fund will be called Arca Accredited Investor Bitcoin Trust and will accept investments of $25,000 or more, depending on Arca’s deposit. This is half the value of Grayscale GBTC’s minimum investment, which is set at $50,000.

Arca has other cryptocurrency products and the Arca U.S. Treasury Fund. The fund is a closed-end fund registered under the Investment Company Act of 1940 that issues shares in the form of digitally transferable securities using block chain technology, depending on the company. The US Treasury’s Arca fund, called Arcoin, was launched on the 6th. July 2020. The Arca Accredor Investor Bitcoin Trust will focus on Bitcoin (BTC).

Arc competes with Gray Scale, By Bit Arrow, Crosstower, Osprey Fund and Blockfi.

Arca will compete with Grayscale Bitcoin Trust, a popular investment vehicle that accounts for over 3% of all BTC transactions. Last week, the Grayscale Fund acquired $350 million worth of BTCs, while approximately 690,000 BTCs are currently under arrest. An Arca recording on Form D does not disclose the scope of the program and takes advantage of the exemption from Federal Rule 506(c). The California company will not only compete with Grayscale, but also with a number of other funds that are competing in the race for the Bitcoin Trust.

News.Bitcoin.com recently reported on a Bitcoin fund and offer from financial company Blockfi. But the Arca Bitcoin Trust will also compete with trusts set up by Crosstower and with the Osprey Fund. All trusts have different fee structures that differ from Grayscale’s fee structure.

What do you think of the Arch Accredited Bitcoin Investor Trust? Let us know what you think in the comments below.

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