Grayscale Investments Reopens The Majority Of Its Crypto Trusts To New Investors

Grayscale Investments Reopens The Majority Of Its Crypto Trusts To New Investors
фото показано с : zycrypto.com

2021-1-13 22:28

New York-based digital asset manager Grayscale LLC has once again opened its doors to new investors for most of its crypto trusts. The company had paused taking on new investors in late December 2020.

It’s not uncommon for Grayscale to temporarily pause on new investors. On Dec. 21, the fund halted six of its cryptocurrency products for new investors. This is notable because Grayscale is one of the few crypto funds in the U.S. that allows customers to gain exposure to the flagship cryptocurrency. While the digital asset trusts were unavailable at that time, the fund’s existing investors were still able to purchase shares.

At the time of publication, Grayscale products such as the Bitcoin Trust, the Ethereum Classic Trust, the Bitcoin Cash Trust, Litecoin Trust, and the Digital Large Cap Fund are all available to new investors. The Ethereum Trust is yet to resume accepting new investments.

Notably, the XRP Trust is also closed and will possibly remain so for the foreseeable future. On January 5, Grayscale revealed that it had liquidated all XRP positions from its large-cap fund. This came shortly after the United States Securities and Exchange Commission (SEC) filed a damning lawsuit against Ripple, alleging that the firm and its top executives sold approximately $1.3 billion worth of the XRP token in unregistered securities sales.

Grayscale has noticeably emerged as the world’s biggest digital asset fund. As of Monday (Jan.11), the fund had a staggering $24.5 billion assets under management across its school of investment products. The Grayscale Bitcoin Trust has the lion’s share at over $20 billion.

Bitcoin’s price plummeted to $30,000 yesterday after hitting $42,000 highs over the weekend. The top crypto, however, quickly rebounded and seems to have stabilized above $34,000 at the time of writing this.

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