Grayscale resumes accepting investments in all of its cryptocurrency trusts
Grayscale, is now accepting new investments in all of its cryptocurrency trusts. In late December 2020, when the six-month lock-up period for selling shares in the Bitcoin trust was winding up, the investment manager had restricted new inflows into six of its trusts.
Now Grayscale Bitcoin Trust and the Grayscale Digital Large Cap Fund Trust are all available for new investors. But, the Grayscale Ethereum Trust is unavailable. The Grayscale XRP Trust and is likely to remain the same. In early January, the fund manager liquidated its holdings of the asset after the news broke out of a major lawsuit file by the United States Securities and Exchange Commission against Ripple.
Grayscale periodically halts and resumes new investor inflows into its funds. The private placement funds can work during the closure. All the investors of Grayscale crypto trusts will undergo a six-month lock-up period for their newly purchased shares. After this period, they can sell the shares to non-accredited investors in the open market.
Crypto investors are keenly observing the action from Grayscale, which is among the world’s largest cryptocurrency asset managers. On Jan 11, 2021, Grayscale had $24.5 billion assets under management across its various crypto funds.
At the time of writing, Bitcoin is trading at a price of $34,222.30. Some analysts have predicted that when the six-month lock-up period is about to close, the Bitcoin spot market will be higher as shares in GBTC will hit the open market.
