Patient Capital Management plans to allocate up to 15% of assets to Bitcoin ETFs

Patient Capital Management, an asset management company in Baltimore, USA, stated in a recent filing with the US Securities and Exchange Commission (SEC) that it plans to invest up to 15% of its net assets in various physical Bitcoin ETFs. The Patient Capital Management Opportunity Trust Fund managed by the company holds approximately $1.38 billion in assets, which means that the fund may invest up to $207 million in Bitcoin. The fund stated in its mission statement that it will maintain its Bitcoin investment for a considerable period of time to achieve "long-term excess performance."

This updated filing shows that this is not the fund's first investment in Bitcoin. Previously, the fund held Bitcoin through Grayscale's Bitcoin Trust, which has recently converted to a physical Bitcoin ETF.