BlockFi Bitcoin Trust (the "Trust"), announced today that it will irrevocably abandon, immediately prior to any time that the Trust creates new units of beneficial interest in the Trust ("Shares") and for no direct or indirect consideration, all rights, title and interest in any assets resulting from any airdrops or forks in relation to Bitcoins held by the Trust ("Incidental Assets"), except for Incidental Assets which it previously has taken any affirmative action to acquire, has abandoned, or has otherwise disposed of. None of the Trust, its sponsor and their respective affiliates will have any power or authority to take any action that would allow it or any owner of Trust Shares to economically benefit from any Incidental Asset that it has abandoned.
The Trust will not take any action at any time that is inconsistent with a prior abandonment of an Incidental Asset, including by accepting any future delivery of any abandoned Incidental Asset, accepting payment from any person in respect of any abandoned Incidental Asset or representing to any person or in any context that it has any remaining right with respect to any abandoned Incidental Asset.
Legal Disclaimers:
Investors should carefully consider the investment objectives and risks as well as fees and expenses of the Trust before investing. More information can be found in the Trust's Private Placement Memorandum. Read the Private Placement Memorandum carefully before investing.
Nothing contained in this announcement should be construed as a solicitation of an offer to buy or offer, or recommendation, to acquire or dispose of any security, commodity, investment or to engage in any other transaction. The information provided in this announcement 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. This announcement is not directed to any person in any jurisdiction where the publication or availability of the announcement is prohibited, by reason of that person's nationality, residence or otherwise.
Investments in the Trust involve risk and the value of the Trust's shares could go down.
Neither BlockFi nor any of its affiliates or representatives provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.
About BlockFi
BlockFi is a new breed of financial services company. Founded in 2017 by Zac Prince and Flori Marquez, BlockFi is building a bridge between cryptocurrencies and traditional financial and wealth management products to advance the overall digital asset ecosystem for individual and institutional investors. BlockFi's platform manages more than $8 billion in assets and has generated tens of millions in interest for clients. The company, headquartered in New Jersey with offices around the globe, continues to expand its presence in the United States and internationally.
Media Contact for BlockFi:
Ryan Dicovitsky
Dukas Linden Public Relations
BlockFi@DLPR.com
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Original Source: BlockFi Bitcoin Trust Announces Prospective Abandonment of Its Interests in Certain Incidental Assets
