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Alternative Assets  + Asset Management  + Crypto  + Crypto  + Markets  + Real Estate  |  May 7, 2025
Pearl Fund Launches $500M Bitcoin Fund with Tax-Free Gains via OZ Strategy 
Joe Palmisano
By: Joe Palmisano

Pearl Fund Launches $500M Bitcoin Fund with Tax-Free Gains via OZ Strategy 

The Pearl Fund has introduced the Pearl Bitcoin Fund (Pearl BTC), a $500 million vehicle designed to eliminate capital gains taxes on Bitcoin investments through Opportunity Zone (OZ) regulations.  

Led by managing partner Brian P. Phillips, Pearl BTC merges the tax benefits of OZ investing with Bitcoin’s growth potential, offering accredited investors tax-free long-term gains. “One of Bitcoin’s biggest problems is capital gains tax. We’ve solved that,” said Phillips. 

Pearl BTC tackles the tax burden of selling appreciated Bitcoin. Investors with recent capital gains can defer taxes until 2026 by investing in the fund, with the primary advantage being tax-free withdrawal of investment growth after 10 years—a benefit unmatched by other Bitcoin investment options, including Bitcoin ETFs, according to the firm. 

The fund’s launch is timely, as the OZ program is set to expire at the end of tax year 2026, urging investors to act swiftly. “With the federal OZ program scheduled to sunset at the end of 2026, Bitcoin-affinity investors, with an eye towards long-term tax and cash planning, should act now rather than adopt a ‘wait and see’ posture regarding pending federal tax legislation,” added Paul Saint-Pierre, CCO at The Pearl Fund. 

Pearl BTC’s holdings are audited and supported by institutional custodians, including Fidelity Investments, Morgan Stanley, and Dykema. The fund also offers generational wealth transfer benefits, maintaining the same tax basis for inherited investments. 

Available exclusively to accredited investors, Pearl BTC requires a minimum investment of $250,000. 

Pictured: Brian P. Phillips, Managing Partner of The Pearl Fund 

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About Joe Palmisano

Joe Palmisano is Editorial Director for Connect Money, where he brings nearly three decades experience of market insights as a financial journalist, analyst and senior portfolio manager for leading financial publications, advisory firms, and hedge funds. In his role as Editorial Director, Joe is responsible for the selection of content and creation of daily business news covering the financial markets, including Alternative Assets, Direct Investment and Financial Advisory services. Before joining Connect Money, Joe was a financial journalist for the Wall Street Journal, regularly publishing feature stories and trend pieces on the foreign exchange, global fixed income and equity markets. Joe parlayed his experience as a financial journalist into roles as a Senior Research Analyst and Portfolio Manager, writing daily and weekly market analysis and managing a FX and US equity portfolio. Joe was also a contributing writer for industry magazines and publications, including SFO Magazine and the CMT Association. Joe earned a B.S.B.A. in Finance from The American University. He holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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