The Pearl Bitcoin Fund LLC, an investment vehicle designed to eliminate long-term capital gains taxes on Bitcoin through an Opportunity Zone framework, has appointed HC Global as its fund administrator. HC Global will provide independent oversight of the Fund’s financial reporting, investor onboarding, and various compliance functions.
HC Global, which oversees $40 billion in assets under administration, will support The Pearl Bitcoin Fund’s operations. The Fund is managed by The Pearl Fund Management Company, led by Managing Partner Brian P. Phillips. Its structure aims to combine the tax advantages of Opportunity Zone (OZ) investing with the growth potential of Bitcoin, allowing accredited investors to potentially eliminate long-term capital gains taxes after a 10-year hold period. This approach is distinct from Bitcoin ETFs or traditional digital asset funds.
Brian P. Phillips emphasized the importance of investor confidence, stating, “HC Global’s role ensures that a trusted institutional partner independently verifies every subscription, engages in net asset value (‘NAV’) calculations, and provides an array of compliance checks. For serious Bitcoin investors seeking secure, tax-advantaged growth, this represents a level of professionalism and transparency unmatched in the market.”
As fund administrator, HC Global will offer comprehensive services. These include calculating the NAV for both the Fund and The Pearl Bitcoin Company LLC, providing independent pricing, monitoring capital activity, cash control, and investor relations through the preparation and distribution of monthly LP statements. Additionally, HC Global will handle Anti-Money Laundering (AML) and Know Your Customer (KYC) requirements, prepare financial statements, and coordinate annual audits.
Ghufran Rizvi, COO of HC Global Fund Services, commented on the appointment, saying, “The Fund has built something truly innovative through a fund structure that unlocks tax-free Bitcoin capital growth within the Opportunity Zone framework, and we are delighted to be selected as the fund administrator in this breakthrough category. Our role is to provide the independent administration and oversight that serious investors expect for this kind of long-term commitment.”
Legal documentation for the Fund was prepared by Cole-Frieman & Mallon LLP, a law firm specializing in investment fund structures, with additional corporate work handled by Dykema. The Fund plans to engage an independent auditor to further enhance investor protection.
The Pearl Bitcoin Fund is exclusively available to accredited investors, with a minimum investment of $500,000. U.
S. taxable investors and entities that have recently realized capital gains can invest, with the objective of realizing 100% tax-free growth after a 10-year hold period.
The Pearl Bitcoin Fund is a pioneering investment firm that integrates the tax-advantaged benefits of Opportunity Zone investing with high-growth businesses. It is recognized as an Opportunity Zone Business (OZB) fund and was founded by Brian P. Phillips, an investor ranked among the top 10 OZ fund managers by Forbes.
