-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 7e8xwi+7QIntRdGYjoS/PQ==

<SEC-DOCUMENT>0001014776-08-000012.txt : 20080721
<SEC-HEADER>0001014776-08-000012.hdr.sgml : 20080721
<ACCEPTANCE-DATETIME>20080721124600
ACCESSION NUMBER:		0001014776-08-000012
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080717
FILED AS OF DATE:		20080721
DATE AS OF CHANGE:		20080721

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			DINSMORE THOMAS H
		CENTRAL INDEX KEY:			0001190030

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-02151
		FILM NUMBER:		08960836

	MAIL ADDRESS:	
		STREET 1:		C/O DAVIS-DINSMORE MANAGEMENT
		STREET 2:		65 MADISON AVE
		CITY:			MORRISTOWN
		STATE:			NJ
		ZIP:			07960

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BANCROFT FUND LTD
		CENTRAL INDEX KEY:			0000009521
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				042476994
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	BUSINESS ADDRESS:	
		STREET 1:		65 MADISON AVENUE
		STREET 2:		SUITE 550
		CITY:			MORRISTOWN
		STATE:			NJ
		ZIP:			07960
		BUSINESS PHONE:		(973) 631-1177

	MAIL ADDRESS:	
		STREET 1:		65 MADISON AVENUE
		STREET 2:		SUITE 550
		CITY:			MORRISTOWN
		STATE:			NJ
		ZIP:			07960

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BANCROFT CONVERTIBLE FUND INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>primary_doc.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-07-17</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000009521</issuerCik>
        <issuerName>BANCROFT FUND LTD</issuerName>
        <issuerTradingSymbol>BCV</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001190030</rptOwnerCik>
            <rptOwnerName>DINSMORE THOMAS H</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O DINSMORE CAPITAL MANAGEMENT</rptOwnerStreet1>
            <rptOwnerStreet2>65 MADISON AVE</rptOwnerStreet2>
            <rptOwnerCity>MORRISTOWN</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>07960</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chairman</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Shares of Beneficial Interest</value>
            </securityTitle>
            <transactionDate>
                <value>2008-07-17</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>1692</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>18.1</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>11167</value>
                    <footnoteId id="F2"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                    <footnoteId id="F3"/>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">This report is filed to report the acqusition of 1,692 shares, transferred from Dinsmore Capital Management as a bonus for services rendered as of the adviser's fiscal year end, June 30, 2008.</footnote>
        <footnote id="F2">Includes 2,502 shares acquired on various dates in fiscal years 2003 through 2008 under the BCV dividend reinvestment plan.</footnote>
        <footnote id="F3">In addition, the reporting person is the indirect beneficial owner of 8,194 additional shares. These additional shares consist of:

(i) 4,597 shares owned by his wife, which the reporting person disclaims beneficial ownership of. This report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose. Includes 1,214 shares acquired on various dates in fiscal years 2003 through 2008 under the BCV dividend reinvestment plan, and

(ii) 3,341 shares held by an UTMA trust for his daughter's benefit. Includes 880 shares acquired on various dates in fiscal years 2003 through 2008 under the BCV dividend reinvestment plan.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Gary I. Levine, attorney-in-fact</signatureName>
        <signatureDate>2008-07-21</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
