Highlights

The Bitcoin Investment Trust (BIT) is a private, open-ended trust invested exclusively in bitcoin. The sponsor of the trust is Alternative Currency Asset Management LLC, a wholly owned subsidiary of SecondMarket Holdings, Inc.

• The BIT was created for accredited investors looking for exposure to bitcoin through an investment vehicle as opposed to a direct investment.
• The BIT solves the challenges of buying, storing and safekeeping bitcoins.

If you would like to view the BIT’s private placement memorandum and transaction documents, please click the Invest Now button. If you are new to SecondMarket you will need to create an account.

Additional Information

Please refer to the Bitcoin Investment Trust website for updated information on the net asset value, net assets, and performance information for the BIT. The NAV of the Bitcoin Investment Trust is calculated daily at 4pm ET.*

*Past performance is not an indicator of future results. NAV per share for the BIT (capitalized on September 24, 2013) is calculated based on the historical price of bitcoin. If you would like to see how NAV is calculated, please refer to the private placement memorandum. The price of bitcoin is highly volatile and it is possible to lose the entire value of your investment.

Important Disclaimers

This product represents a speculative investment and involves a high degree of risk. Investors must have the financial ability, sophistication/experience and willingness to bear the risks of an investment. Any offering or solicitation will be made only to qualified accredited investors pursuant to a formal offering with additional documentation, all of which should be read in their entirety. Information provided about the Bitcoin Investment Trust (the “BIT”) is not intended to be, nor should it be construed or used as investment, tax or legal advice, a recommendation, or an offer to sell, or a solicitation of an offer to buy, an interest in the BIT. Any offer or solicitation of an investment in the BIT may be made only by delivery of the BIT’s confidential offering documents to qualified accredited investors. You should rely solely on such offering documents in making any investment decision. An investment in the BIT is not suitable for all investors.

The BIT is a private, unregistered investment vehicle and NOT subject to the same regulatory requirements as exchange traded funds or mutual funds, including the requirement to provide certain periodic and standardized pricing and valuation information to investors. There are substantial risks in investing in the BIT. You should note carefully the following:

• The BIT represents a speculative investment and involves a high degree of risk. An investor could lose all or a substantial portion of his/her investment. Investors must have the financial ability, sophistication/experience and willingness to bear the risks of an investment in the BIT.

• An investment in the BIT should be discretionary capital set aside strictly for speculative purposes.

• An investment in the BIT is not suitable or desirable for all investors. Only qualified accredited investors may invest in the BIT.

•The BIT’s offering documents have not been reviewed or approved by federal or state regulators.

• An investment in the BIT will be illiquid and there may be significant restrictions on transferring interests in the BIT. There is no secondary market for an investor’s investment in the BIT and none may develop.

• The BIT has no operating history or performance.

• The BIT’s sponsor has total authority over the BIT.

• The BIT and its managers or advisors may rely on the trading expertise and experience of third-party managers or advisors, the identity of which may not be fully disclosed to investors.

• The BIT may involve a complex tax structure, which should be reviewed carefully, and may involve structures or strategies that may cause delays in important tax information being sent to investors.

• The BIT’s fees and expenses−which may be substantial regardless of any positive return− will offset the BIT’s trading profits.

• The BIT and its managers/advisors may be subject to various conflicts of interest.

The above summary is not a complete list of the risks and other important disclosures involved in investing in the BIT and is subject to the more complete disclosures contained in the BIT’s confidential offering documents, which must be reviewed carefully.