Meanwhile Advisors, a crypto startup backed by the American entrepreneur Sam Altman, has announced plans to raise $100 million for a Bitcoin (BTC) private credit fund.
The fund, known as Meanwhile Private Credit Fund aims to provide institutional investors with access to BTC while targeting an additional 5% yield denominated in the cryptocurrency.
Bitcoin Rally Sparks Launch Of Meanwhile Advisors Fund
According to a report by The Block, Meanwhile Advisors has launched the fund as Bitcoin continues its recent rally, with prices currently falling from the $44,000 level down to the $43,200 mark.
Zac Townsend, the co-founder and CEO of Meanwhile Group, stated that the belief is that Bitcoin will appreciate significantly in the future, and the fund offers investors a unique opportunity to increase their exposure to digital assets.
The Meanwhile BTC Private Credit Fund adopts a single-close, closed-end structure. Participating limited partners (LPs) will contribute US dollars to the fund
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