The minimum initial subscription amount for investors is €10,000 and the minimum additional subscription amount is €10,000.
An up-front subscription fee to 0.5% of the subscription amount is charged.
The Safekeeping and Administration Fee
The Safekeeping and Administration fee is payable daily in arrears at the rate of 1.75% of the net share value calculated on a 360 day count convention.
The Sub-Fund Shares may be redeemed upon at least ten (10) Business Days. Shareholders that redeem Sub-Fund shares will be subject to a Redemption Charge of 0.5% of the Net Share Value.
REGISTRATION MADE SIMPLE
If you would like to become our client, simply fill in the form below.
You will be redirected to the EXANTE Hedge Fund platform site to upload your documents and complete the Bitcoin Fund subscription.
These Website Terms and Conditions of Use («Terms») are effective as of January 1, 2011.
WEBSITE TERMS AND CONDITIONS OF USE
Please read these terms carefully before visiting the website or using the online services and products provided thereon. By utilizing the website, you acknowledge that you (the «user») have read these terms and that you agree to be bound by them. If you do not agree to all of the terms, you are not an authorized user of these services and products and you should not use this website.
Unauthorized use of this website, including but not limited to misuse of passwords or posted information, is strictly prohibited. Authorized users of this website include any users visiting this website for personal and/or informational purposes, clients and potential clients of Bitcoin sub-fund, Bitcoin sub-fund employees, candidates for employment or users seeking information about employment opportunities at Bitcoin sub-fund, and any other users authorized by Bitcoin sub-fund.
Use of this website by recruiters, «head hunters» employment consultants or agencies, personnel placement agencies, professional services companies, employment contractors and staffing agencies seeking current Bitcoin sub-fund employees as candidates for placement is strictly prohibited.
No Offer/Local Restrictions
Nothing contained in or on the Website should be construed as a solicitation of an offer to buy or offer, or recommendation, to acquire or dispose of any security, commodity, or investment or to engage in any other transaction. Bitcoin sub-fund offers a number of products and services designed specifically for various categories of investors in various countries and regions. Not all products will be available to all investors. These products or services are only offered to such investors, in those countries and regions, in accordance with applicable laws and regulations. The information provided on the Website is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. All persons and entities accessing the Website do so of their own initiative and are responsible for compliance with applicable local laws and regulations. The Website is not directed to any person in any jurisdiction where the publication or availability of the Website is prohibited, by reason of that person’s nationality, residence or otherwise. Persons subject to these restrictions must not access the Website.
All materials displayed or otherwise contained on this Website, including without limitation, all images, text, articles, programs, photographs, illustrations, and graphics are owned by Bitcoin sub-fund, or a licensor thereof, and are protected by Bermuda, and international copyright laws. Any commercial use of these materials by the User is strictly prohibited without the express written permission of Bitcoin sub-fund, and nothing contained on this Website should be construed as granting, by implication, estoppel, or otherwise, such permission.
By utilizing this Website, the User agrees not to sell, copy, publish, distribute, transfer, modify, display, reproduce or create derivative works from the materials on this Website for commercial use. The User agrees not to publish, display or redeliver any of the pages, text, images or content of this Website using «framing» or similar techniques. The User also agrees not to publish or maintain a hyperlink to any portion or page of this Website other than to the homepage (/) unless such hyperlink is for personal use AND is created and transmitted using the «email this page» function of the Website.
Trademarks and Service Marks
All trademarks, service marks, trade names, and logos displayed on this Website (collectively referred to as the «Marks») are proprietary to Bitcoin sub-fund or their respective owners, and are protected by Bermuda’s and international trademark laws. Any use of the Marks, or any other Marks owned by or licensed to Bitcoin sub-fund without Bitcoin sub-fund express written consent, is strictly prohibited.
No Warranty, Limitation of Liability
The information on the website is provided «as is». Bitcoin sub-fund does not warrant the accuracy of the materials provided herein, either expressly or impliedly, for any particular purpose and expressly disclaims any warranties of merchantability or fitness for a particular purpose.
You acknowledge that Bitcoin sub-fund shall have no liability, contingent or otherwise, to you or to any third parties, or any responsibility whatsoever, for the failure of any connection or communication service, to provide or maintain your access to online services or products, or for any interruption or disruption of such access or any erroneous communication between Bitcoin sub-fund and you. Bitcoin sub-fund shall have no liability, contingent or otherwise, to you or to third parties, for the accuracy, quality, timeliness, performance, reliability, or completeness of the information or services contained on the website, or delays, omissions, or interruptions in the delivery of the data or services or products available on this website or for any other aspect of the performance of these services and products. In no event will Bitcoin sub-fund be liable for any special, indirect, incidental or consequential damages that may be incurred or experienced on account of the use of any data or services or products made available on this website, even if Bitcoin sub-fund has been advised of the possibility of such damages. Bitcoin sub-fund shall have no responsibility to inform or notify you of any difficulties experienced by Bitcoin sub-fund or any third parties with respect to the use of the services, products or data provided herein.
You further acknowledge that nothing contained on this website (including, but not limited to, strategies and research, daily wires, and educational articles) constitutes investment, legal, tax or other advice, nor is it to be relied upon in making any investment or other decisions. You should seek professional advice prior to making any investment decisions.
If any of the provisions of these Terms are deemed unlawful or for any reason unenforceable, the same shall be inoperative only to the extent necessary to achieve compliance with applicable law and shall not affect the remaining Terms, which shall be given full effect, without regard to the invalid portion(s).
The laws of the Bermuda shall govern these Terms. The User agrees that any dispute or controversy arising out of these Terms shall be prosecuted exclusively in the state or federal courts in Bermuda.
Certain webpages on this Website may contain separate terms and conditions, which are in addition to these Terms. In the event of a conflict, the additional terms and conditions will govern such webpages.
The Bitcoin sub-fund (the “fund”) was incorporated as a Bermuda exempted company.
The company is registered as a segregated account company under the segregated accounts companies act 2000 of Bermuda (the ‘sac act’). As a matter of Bermuda law, provided that the conditions laid down in the sac act are complied with, assets attributable to each segregated account of the company shall only be available to creditors in respect of that segregated account and the assets of that segregated account shall be protected from creditors of the company who are not creditors in respect of that segregated account. The sub-fund is a segregated account of the company.
Additional segregated accounts may be created with the same or different investment objectives and on the same or different terms from time to time as the directors may determine.
This web site or the fund offering memorandum do not constitute an offer or a solicitation to any person in any jurisdiction in which such offer or solicitation is not authorized. The delivery of the fund offering memorandum or any sale made hereunder shall not under any circumstance imply that the information in it or in this web site is correct as of any date subsequent to the date hereof.
Investors should read the fund offering memorandum in its entirety and rely only upon statements made in it. The shares described in the offering memorandum and mentioned in this web site are offered solely on the basis of the information contained in the offering memorandum, and any further information given or representations made by any person may not be considered as having been authorized by the fund.
The shares being offered hereby have not been approved by the united states securities and exchange commission (“sec”), the Cayman islands monetary authority (“cima”) or any other governmental authority and neither the sec, cima nor any such other authority has passed upon the accuracy or adequacy of this offering memorandum. Any representation to the contrary is a criminal offense. It is anticipated that the offering and sale of the shares will be exempt from registration under the united states securities act of 1933, as amended and the various state securities laws and that the fund will not be registered as an investment company under the united states investment company act of 1940, as amended.
Pursuant to this offering memorandum, the fund is offering shares of the fund in a private placement to certain “qualified” investors.
An investor must not be considered a “U.S. Person”, except for permitted U.S. Persons.
The circulation and distribution of this offering memorandum and offering of shares in certain countries is restricted by law. Persons into whose possession this offering memorandum may come are required to inform themselves of and to observe any restrictions and/or any additional requirements as to suitability or investor qualification.
Restrictions on sales in selected jurisdictions
For Australian prospective shareholders
This document is not a prospectus under chapter 6d of the corporation`s act 2001 or a product disclosure statement under chapter 7 of the corporations act 2001. This document does not contain the information which would be contained in a prospectus or product disclosure statement under the corporation`s act 2001. Accordingly, this document may not be issued or distributed and the shares may not be offered, issued, sold or distributed in Australia by the fund, or any other person, including a subsequent holder of the shares, other than by way of or pursuant to an offer, sale or issue that does not need disclosure under chapter 6d and chapter 7 of the corporations act 2001.
For Bahamian prospective investors
The shares may not be offered or sold or otherwise disposed of in any manner to persons deemed by the central bank of the Bahamas (the «bank») as resident for exchange control purposes, unless such persons deemed as resident obtain the prior approval of the bank.
For Belgian prospective shareholders
The fund has not been and will not be registered with the Belgian banking, finance and insurance commission («commissie voor het bank-, financie- en assurantiewezen» / «commission bancaire, financi?re et des assurances») as a foreign collective investment institution under article 127 of the Belgian law of 20 July 2004 on certain forms of collective management of investment portfolios. The offering in Belgium has not been and will not be notified to the Belgian banking, finance and insurance commission, nor has this document been nor will it be approved by the Belgian banking, finance and insurance commission. The shares issued by the fund shall, whether directly or indirectly, only be offered, sold, transferred or delivered in Belgium to (i) «qualified investors» in the sense of article 10 of the Belgian law of 16 June 2006 on the public offer of placement instruments and the admission to trading of placement instruments on regulated markets (as amended from time to time), and «professional or institutional investors» in the sense of article 5§3 of the Belgian law of 20 July 2004 on certain forms of collective management of investment portfolios (as amended from time to time), acting on their own behalf, or (ii) persons acquiring interests for a minimum consideration of €50,000 per investor and per offer. This document has been issued to you for your personal use only and exclusively for the purposes of the offering. Accordingly, this document may not be used for any other purpose nor passed on to any other person in Belgium.
For Brazilian prospective shareholders
The shares offered hereby have not been, and will not be, registered with the comissao de valores mobiliarios (the «Brazilian securities commission» or «cvm») and may not be offered or sold in Brazil except in circumstances which do not constitute a public offering or distribution under Brazilian laws and regulations.
For prospective shareholders of the British Virgin Islands
The fund, this offering memorandum and the shares offered hereby have not been, and will not be, recognized or registered under the laws and regulations of the British Virgin Islands. The shares may not be offered or sold in the British Virgin Islands except in circumstances in which the fund, this offering memorandum and the shares do not require the recognition by or registration with the authorities of the British Virgin Islands.
For Canadian prospective shareholders
This offering memorandum is not, and under no circumstances is to be construed as, a public offering of securities or an offering of securities in any jurisdiction in which such offering would be unlawful.
No securities commission or similar authority in Canada has in any way passed upon the merits of the shares offered hereby and any representation to the contrary is unlawful. Persons who will be acquiring shares pursuant to this offering memorandum will not have the benefit of a review of the material by any securities regulatory authority in Canada.
By accepting their subscription agreements, the fund shall be granting to shareholders in the provinces of Canada who have received this offering memorandum a contractual and/or statutory right of action for damages or rescission against the fund if this offering memorandum, or any amendment thereto, contains a misrepresentation.
This right of action is in addition to any other right or remedy available to the shareholder at law.
For prospective shareholders of the Cayman Islands
No invitation may be made to the public in the Cayman Islands to subscribe for the shares unless and until the shares are listed on the Cayman Islands stock exchange.
For Chilean prospective shareholders
The shares offered hereby have not been, and will not be, registered with the superintendencia de valores y seguros (the «Chilean securities commission» or «svs») and may not be offered and sold in Chile except in circumstances which do not constitute a public offering or distribution under Chilean laws and regulations.
For Chinese prospective shareholders
No invitation to offer, or offer for, or sale of, the shares will be made to the public in China or by any means that would be deemed public under the laws of China. The offer of shares is personal to the investor to whom this offering memorandum has been addressed by the fund. Business entities incorporated under the laws of China (excluding foreign investment business entities) will apply for approval from the Chinese government authorities before purchasing the shares.
Furthermore, all business entities incorporated under the laws of China and Chinese citizens residing in China will obtain the prior approval from the Chinese foreign exchange authority before purchasing the shares.
For Costa Rican prospective shareholders
The shares offered hereby have not been, and will not be, registered with the comisi?n nacional de valores (the «Costa Rican securities commission») and may not be offered or sold in Costa Rica except in circumstances which do not constitute a public offering or distribution under Costa Rican laws and regulations.
For Dutch prospective shareholders
The shares may not be offered or acquired, directly or indirectly, in the Netherlands and this offering memorandum may not be circulated in the Netherlands, as part of an initial distribution or any time thereafter, other than (i) to individuals or legal entities who are qualifying investors within the meaning of article 1:1 of the financial supervision act as amended from time to time; or (ii) to persons and legal entities who will commit to invest in the fund at least EUR50,000 per investor for each separate offer; or (iii) where the nominal value per share is at least EUR50,000. the fund does not require a license pursuant to the financial supervision act and the fund is not supervised by the Netherlands authority for the financial markets.
For Ecuadorian prospective investors
The shares offered hereby have not been, and will not be, registered with the superintendencia de compa?ias del Ecuador (the «Ecuadorian securities and exchange commission») and may not be offered and sold in Ecuador except in circumstances which do not constitute a public offering or distribution under Ecuadorian laws and regulations. This communication is for informative purposes only; it does not constitute a public offering of any kind.
For French prospective shareholders
The fund has not been authorized and this offering memorandum has not been approved by the autorite des marches financiers or any other French authority. No marketing of the shares has been made on French territory, and this offering memorandum and any other offering materials relating to the fund are being provided only at the request of prospective investors. This offering memorandum and any other offering materials are strictly confidential and may not be distributed to any person or entity other than the recipients hereof.
For Greek prospective shareholders
The fund has not been approved by the Greek capital market commission for distribution to the public in Greece. This offering memorandum and the information contained herein do not and shall not be deemed to constitute an invitation to the public in Greece to purchase the shares. The shares may not be distributed, offered or in any way sold in Greece except as permitted by Greek law. The fund does not have a guaranteed performance and past returns do not guarantee future returns.
For prospective shareholders of Hong Kong
This offering memorandum has not been approved by the securities and futures commission in Hong Kong. Accordingly (a) shares may not be offered or sold and have not been offered or sold in Hong Kong by means of any document other than to (i) «professional investors» as defined in the securities and futures ordinance (cap. 571) of Hong Kong and any rules made under that ordinance; or (ii) in other circumstances which do not result in the document being a «prospectus» as defined in the companies ordinance (cap. 32) of Hong Kong or which do not constitute an offer to the public within the meaning of that ordinance; and (b) no person has issued or had in its possession for the purposes of issue, and will not issue or have in its possession for the purposes of issue, whether in Hong Kong or elsewhere, any advertisement, invitation or document relating to the shares, which is directed at, or the contents of which are or are likely to be accessed or read by, the public in Hong Kong (except if permitted to do so under securities laws of Hong Kong) other than with respect to shares which are or are intended to be disposed of only to persons outside Hong Kong or only to «professional investors» within the meaning of the securities and futures ordinance (cap. 571) of Hong Kong and any rules made under that ordinance. This offering memorandum is delivered only to the recipient solely for the purpose of evaluating a possible investment in the fund and may not be used, copied, reproduced or distributed in whole or in part, to any other person (other than professional advisors of the prospective investor receiving this document). Subscriptions will not be accepted from any person other than the person to whom this offering memorandum has been delivered.
For Irish prospective shareholders
The shares will not be marketed in Ireland without the prior approval in writing of the Irish financial services regulatory authority. The fund has no place of business in Ireland and has not been approved by and is not regulated by the Irish financial services regulatory authority.
For Italian prospective shareholders
The fund is not an ucits fund. It has not been nor will it be registered with the Italian authorities. The shares are offered upon the express request of the investor, who has directly contacted the fund or its sponsor outside of Italy at the investor’s own initiative. No active marketing of the fund has been carried out in Italy and this offering memorandum has been sent to the investor at the investor’s request. The investor acknowledges the above and hereby agrees not to transfer or otherwise resell any shares. This offering memorandum and other offering materials relating to the offer of shares are strictly confidential and may not be distributed to any person or entity other than the recipients hereof.
For Japanese prospective Shareholders
No registration pursuant to article 4, paragraph 1 of the financial instruments and exchange law of Japan (the «fiel») has been made or will be made with respect to the solicitation of the application for the acquisition of the shares on the ground that the shares are securities set forth in article 2, paragraph 2, item 6 of the fiel and the small number private placement exemption for such securities is applied to such solicitation.
The offering of the shares is limited to and made only to (i) qualified institutional investors («qiis») as defined in article 2, paragraph 3, item 1 of the fiel and article 10 of the cabinet order regarding definitions under article 2 of the fiel or (ii) a partnership fund whose interests are held only by qiis; provided that total number of qiis is less than ten for the fund and no more than one-third of total capital of the fund comes from such qiis.
This offering memorandum is confidential and is intended solely for the use of it`s recipient. Any duplication or redistribution of this offering memorandum is prohibited. The recipient of this offering memorandum, by accepting delivery thereof, agrees to return it and all related documents to the fund or its placement agent if the recipient elects not to purchase any of the shares offered hereby or if requested earlier by the fund or it`s placement agent. Neither the return of the principal amount invested nor the distribution of profit from the investment is guaranteed. An investment in the shares involves certain risks of loss caused by fluctuation of interest rates, currency and other market factors, or the credit risk of the counterparties or relevant parties thereof. Prospective investors should read the terms of the investment carefully, in particular, those relating to limitations on the period in which rights relating to such investment can be exercised.
For prospective shareholders of Jersey
This offering memorandum relates to a private placement and does not constitute an offer to the public of Jersey to subscribe for the shares offered hereby. No regulatory approval has been sought for the offer in Jersey. The offer of the shares is personal to the person to whom this offering memorandum is being delivered by or on behalf of the fund, and a subscription for the shares will only be accepted from such person. This offering memorandum may not be produced or used for any other purpose, nor be furnished to any other person other than those to whom it has been so delivered.
For Korean prospective shareholders
Neither the fund nor the investment manager is making any representation with respect to the eligibility of any recipients of this offering memorandum to acquire the shares under the laws of Korea, including but without limitation the foreign exchange transaction act and regulations thereunder. The shares have not been registered under the securities and exchange act of Korea or the indirect investment asset management business act of Korea, and none of the shares may be offered, sold or delivered, or offered or sold to any person for re-offering or resale, directly or indirectly, in Korea or to any resident of Korea except pursuant to applicable laws and regulations of Korea.
For prospective shareholders of Liechtenstein
The shares are offered to a narrowly defined category of investors, in all cases under circumstances designed to preclude a public solicitation. This offering memorandum may not be reproduced or used for any other purpose, nor be furnished to any other person other than those to whom copies have been sent.
For prospective shareholders of Luxembourg
The shares may not be publicly offered or sold in the grand duchy of Luxembourg, except for shares for which the requirements of article 76 of the law of December 20, 2002 on undertakings for collective investment have been met. The shares are offered to a limited number of investors or to sophisticated investors, in all cases under circumstances designed to preclude a distribution that would be other than a private placement. This offering memorandum may not be reproduced or used for any purpose, or provided to any person other than those to whom copies have been sent.
For prospective shareholders of New Zealand
No offeree of the shares shall directly or indirectly offer, sell or deliver any shares, or distribute this offering memorandum or any advertisement in relation to any offer of the shares, in new Zealand other than to persons whose principal business is the investment of money or who, in the course of and for the purposes of their business, habitually invest money or who in all the circumstances can properly be regarded as having been selected otherwise than as members of the public or in other circumstances where there is no contravention of the securities act 1978 of new Zealand.
For Norwegian prospective shareholders
The fund falls outside the scope of the Norwegian investment fund act and, therefore, is not subject to supervision from the financial supervisory authority of Norway (kredittilsynet). The shares are not subject to the Norwegian securities trading act.
The contents of this offering memorandum have not been approved or registered with the Oslo boers (the Oslo stock exchange) nor the Norwegian company registry.
Each investor should carefully consider individual tax questions before investing in the fund. This offering memorandum should not in any way be copied or otherwise distributed by the recipient.
For prospective shareholders of Oman
This offering memorandum and any associated offering material is being sent at the request of the investor in Oman and should not be distributed to any person in Oman other than its intended recipient without the prior consent of the capital market authority and then only in accordance with any terms and conditions of such consent.
For Panamanian prospective shareholders
The shares have not and will not be registered with the comisi?n nacional de valores (the «national securities commission») of the republic of panama under cabinet decree No. 247 of 1970 («panama’s securities law») and may not be offered or sold in a primary offering within Panama, except in certain transactions exempt from the registration requirements of Panama’s securities laws.
For Russian prospective shareholders
The shares are not intended to be sold or offered in (or on the territory of) the Russian Federation or to Russian residents and this offering memorandum has not been registered with, and will not be registered with, the federal securities markets commission of the Russian Federation.
For Singaporean prospective shareholders
This offering memorandum has not been registered as a prospectus with the monetary authority of Singapore and this offering is not regulated by any financial supervisory authority pursuant to any legislation in Singapore. You should accordingly consider carefully whether the investment is suitable for you.
Each investor agrees that this offering memorandum and any other document or material in connection with the offer or sale, or invitation for subscription or purchase, of shares may not be circulated or distributed, nor may shares be offered or sold, or be made the subject of an invitation for subscription or purchase, whether directly or indirectly, to persons in Singapore other than institutional investors (as defined in section 4a of the securities and futures act, chapter 289 of Singapore, or the «sfa»), accredited investors (as defined in section 4a of the sfa) or any person pursuant to an offer that is made on terms that shares are acquired at a consideration of not less than $200,000 (or its equivalent in a foreign currency) for each transaction, whether such amount is to be paid for in cash or by exchange of securities or other assets, unless otherwise permitted by law.
For Swiss prospective shareholders
The fund has not been authorized by the Swiss federal banking commission as a foreign collective investment scheme under the Swiss federal act on collective investment schemes of 23 June 2006 («cisa») and the corresponding collective investment schemes ordinance («ciso»). Accordingly, the shares offered hereby may not be offered to the public in or from Switzerland. This offering memorandum and any other material relating to the shares are strictly confidential and may not be distributed to any person or entity other than its recipients. The distribution of the shares in or from Switzerland will be made on the basis of a non-public offering to qualified investors within the meaning of articles 3, 10 (3) and (4) cisa and 6 (2) ciso.
For prospective shareholders of the United Kingdom
This offering memorandum is directed only at persons who (i) have professional experience in matters relating to investments or (ii) are persons falling within article 49(2)(a) to (d) («high net worth companies, unincorporated associations, etc.») of the financial services and markets act 2000 (financial promotion) order 2005 or (iii) are persons to whom this document may otherwise lawfully be communicated (all such persons together being referred to as «relevant persons»). This communication must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this communication relates is available only to relevant persons and will be engaged in only with relevant persons.
For Uruguayan prospective shareholders
The shares offered hereby correspond to a private issue and are not registered with the central bank of Uruguay.
For U.S. prospective shareholders
The shares have not been registered under the U.S. Securities act of 1933, as amended, and the fund has not been and will not be registered under the U.S. Investment company act of 1940, as amended. Subject to the discretion of the board of directors of the fund, in consultation with the investment manager, the shares may not be offered, sold or transferred directly or indirectly, in the United States or to any United States person.
The shares are subject to restrictions on transferability and resale and may not be transferred or resold except as permitted under the 1933 act, and the applicable state securities laws, pursuant to registration or exemption therefrom. Prospective shareholders should be aware that they will be required to bear the financial risks of this investment for an indefinite period of time. Furthermore, any transfer will be subject to approval by the fund, which may be denied in its absolute and sole discretion. No market for the shares can be expected.
U.S. Persons (except for permitted U.S. Persons) may not subscribe either directly or indirectly for shares.
Investment in the fund involves significant risks. Each shareholder should understand that all investments have a risk factor. Therefore, there can be no guarantee against loss resulting from an investment in the fund and there can be no assurance that the fund’s investment policy will be successful or that it`s investment objective will be attained.