In brief

  • The Grayscale Bitcoin Trust is accepting new investors again.
  • The fund has put a pause on new investors in late December.
  • As of yesterday, the fund held about $20 billion in assets under management.

Digital asset investment company Grayscale has re-opened its doors to new investors for the majority of its digital asset trusts.

The Grayscale Bitcoin Trust applies periodic pauses on new investors. On December 21, the fund put a pause on new investors. It’s significant because the fund is one of the few places where institutional investors in the US are able to get exposure to Bitcoin. During this time, however, existing investors were still able to buy shares in the trust.

Read Also:   Crypto Twitter Divided Following Trump's Social Media Ban

Investing in the Grayscale Bitcoin Trust requires a six-month lock up period. In other words, new investors cannot sell their shares on the secondary market for the first six months. 

As of yesterday, the Grayscale Bitcoin Trust held about $20 billion in assets under management. 

The Grayscale Bitcoin Trust is not the only investment product on offer. Grayscale also provides investment opportunities for other major cryptocurrencies, including Ethereum and Litecoin.

At the time of writing, the Grayscale Ethereum Trust—which is yet to reopen—and the Grayscale Litecoin Trust hold $3 billion and $158 million in assets under management respectively. 

Yesterday, Bitcoin dropped to $30,000 from a high of $41,000. But today, Bitcoin’s price appears to have levelled out to about $35,000, after recovering from lows of $30,000.

Read Also:   ELI5: Teaching a 5-Year-Old to ‘Play’ CryptoKitties

Download MAXBIT Android App, Your best source of all crypto news!
Google Play

Source link

Grayscale Bitcoin Trust is Open to New Investors Again

by Joe T. Stanley
Choose A Format
Voting to make decisions or determine opinions
Formatted Text with Embeds and Visuals
The Classic Internet Listicles
Upload your own images to make custom memes
Youtube, Vimeo or Vine Embeds
Soundcloud or Mixcloud Embeds
Photo or GIF
GIF format