Share this article
Sam Altman-Backed Meanwhile Group Starts Bitcoin Private Credit Fund for Institutional Investors
The fund, offered by the startup's investment management arm, Meanwhile Advisors, aims to attract institutional investors with a 5% yield.
Updated Mar 8, 2024, 6:24 p.m. Published Dec 7, 2023, 7:26 p.m.
Bitcoin-focused financial services company Meanwhile Group, backed by OpenAI CEO Sam Altman, has started a bitcoin [BTC] private credit fund, the firm announced Thursday.
The closed-end fund seeks to entice institutional investors in part by offering a "conservative" 5% yield denominated in bitcoin, the press release said. Investors will contribute U.S. dollars to the fund, which will be converted to bitcoin, with fees being also charged in the cryptocurrency.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Private credit – where non-bank institutions lend money to enterprises and individuals – is already a massive business in traditional financial markets, and BlackRock forecasts the sector will grow to $3.5 trillion by 2028.
“A thriving Bitcoin economy is inevitable, but to realize this future and maximize its potential, robust capital markets are essential,” Zac Townsend, co-founder and CEO of Meanwhile Group, said in the press release. “This private credit fund offers unparalleled potential for institutional investors to unlock the full value of their BTC holdings without compromising their ownership, seizing a unique opportunity for optimized returns.”
Our insurance company works by taking in premiums, investing them along our own solvency capital, and getting steady, conservative returns in BTC. We have done that with no credit losses to date. Today we're launching a credit fund directly built on top of that experience. https://t.co/NZSSqLrCE6
— Zac Townsend (@ztownsend) December 7, 2023
The fund aims to raise $100 million from investors, The Block reported.
The company set up a bitcoin-based, artificial intelligence (AI)-aided life insurance business called Meanwhile Insurance and raised $19 million in an investment round earlier this year, Townsend said in an interview with CoinDesk TV this June. Investors included OpenSam Altman and Google's AI-focused Gradient Ventures, according to the press release.
Meanwhile also plans to develop a wide range of financial offerings denominated in crypto, including term life insurance and accidental death coverage in BTC.
Sizin için daha fazlası
Bilinmesi gerekenler:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Nasdaq, home of Coinbase, Strategy stocks, seeks 23-hour trading amid investor demand
Crypto's 24/7 trading has influenced investor expectations, with Nasdaq acknowledging that many of its clients are already active overnight.
What to know:
- Nasdaq plans to expand stock and exchange-traded product trading to 23 hours a day, five days a week, according to a filing.
- The move follows similar initiatives by the New York Stock Exchange and reflects growing global demand for extended market access.
- Always-on cryptocurrency trading has influenced investor expectations, with Nasdaq acknowledging that many of its clients are already active overnight.
