Grayscale opens its Bitcoin Trust to new set of Investors by Oreoluwa Makinwa

Grayscale, an investment company that deals with digital assets has just opened its doors to welcome new investors to its Bitcoin and other digital assets Trust fund. The Bitcoin trust is not the only product offered by the digital asset investment company; other opportunities for investments are also available in other cryptocurrencies such as Litecoin
The post Grayscale opens its Bitcoin Trust to new set of Investors appeared first on Cryptotvplus.

Grayscale, an investment company that deals with digital assets has just opened its doors to welcome new investors to its Bitcoin and other digital assets Trust fund.

The Bitcoin trust is not the only product offered by the digital asset investment company; other opportunities for investments are also available in other cryptocurrencies such as Litecoin and Ethereum.

Term for new investors

However, the Bitcoin trust spells periodic halts on new investors. Meanwhile, during this period of pause on new investors, existing investors are allowed to purchase shares in the trust. One of the important significance of the Grayscale Trust is that institutional investors in the United States get to know about Bitcoin via the scheme.

New investors in the Grayscale bitcoin trust have their shares locked up for a period of six months. This implies that the new set of investors will not be able to sell their shares for the six months lock-up period.

State of the Grayscale Trust

The investment company already has an Ethereum trust which is not yet opened to new investors. The Ethereum trust is said to be holding $3 billion dollars. It also has a Litecoin trust that holds an estimated $158 million dollars. 

According to the update released by Grayscale on 11th January, the total assets under management was worth about $24.5 billion US dollars;

The company tweeted:

“01/13/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per share for our Investment Products. Total AUM: $24.7 billion $BTC, $BCH, $ETH, $ETC, $ZEN, $LTC, $XLM, $ZEC””

What do you think? Share your comments below. 

The post Grayscale opens its Bitcoin Trust to new set of Investors appeared first on Cryptotvplus.

Read More
Cryptotvplus

Leave a Comment

Ads
Event Search
en_USEnglish
en_USEnglish
Get updated on the latest events happening around you
Join Our Community
Join Now
Get 40% OFF
Join our newsletter and get 40% off your next purchase
Subscribe Now