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News

Grayscale Crypto Trusts Are Now Opened To Accredited Investors

February 15, 2024 - Around 2 mins mins to read

Key Points:

  • Grayscale offers private subscriptions for Grayscale crypto trusts based on asset value.
  • Genesis sells $1.3 billion in GBTC shares post-court ruling amid ETF transition.
  • FTX empties Grayscale stake; DCG transfers shares to Gemini amid Genesis dispute resolution.
Grayscale, a prominent player in the cryptocurrency investment space, has opened private placement subscriptions for several of Grayscale crypto trusts to accredited investors.
Grayscale Crypto Trusts Are Now Opened To Accredited Investors

Read more: Grayscale Spot ETF: Basic Knowledge and Positive Future Outlook

Grayscale Opens Private Subscriptions for Grayscale Crypto Trusts

The Grayscale crypto trusts include Grayscale Bitcoin Cash Trust, Grayscale Chainlink Trust, Grayscale Litecoin Trust, Grayscale Solana Trust, and Grayscale Stellar Lumens Trust.

Subscriptions for these Grayscale crypto trusts will be based on their net asset value, with Grayscale managing a portfolio of 25 crypto assets, with leaders such as Bitcoin, Ethereum, Solana, and Litecoin.

This move follows a court ruling allowing Genesis Global to proceed with the sale of approximately 35 million shares in Grayscale’s GBTC fund, valued at over $1.3 billion. The flagship GBTC fund recently transitioned into a bitcoin ETF, becoming a frontrunner in trading volume since its launch. However, it has experienced a significant decline in value, losing over $6 billion.

FTX Clears Grayscale Stake as DCG Transfers Shares to Gemini

FTX, another major player, has sold nearly $1 billion in GBTC shares since the ETF conversion in January, depleting its Grayscale stake entirely.

Grayscale’s flagship product, the Grayscale Bitcoin Trust (GBTC), was introduced in September 2013.

Moreover, Grayscale’s parent company, DCG, has agreed to transfer these shares to Gemini, benefitting Gemini lenders amidst FTX’s recent troubles. Genesis emerged victorious in a dispute over the ownership of these shares, potentially paving the way for their sale to repay creditors.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

crypto

GBTC

Grayscale

Grayscale Bitcoin Cash Trust

Grayscale Chainlink Trust

Grayscale Litecoin Trust

Grayscale Solana Trust

Grayscale Stellar Lumens Trust

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Grayscale Crypto Trusts Are Now Opened To Accredited Investors

Key Points:

  • Grayscale offers private subscriptions for Grayscale crypto trusts based on asset value.
  • Genesis sells $1.3 billion in GBTC shares post-court ruling amid ETF transition.
  • FTX empties Grayscale stake; DCG transfers shares to Gemini amid Genesis dispute resolution.
Grayscale, a prominent player in the cryptocurrency investment space, has opened private placement subscriptions for several of Grayscale crypto trusts to accredited investors.
Grayscale Crypto Trusts Are Now Opened To Accredited Investors

Read more: Grayscale Spot ETF: Basic Knowledge and Positive Future Outlook

Grayscale Opens Private Subscriptions for Grayscale Crypto Trusts

The Grayscale crypto trusts include Grayscale Bitcoin Cash Trust, Grayscale Chainlink Trust, Grayscale Litecoin Trust, Grayscale Solana Trust, and Grayscale Stellar Lumens Trust.

Subscriptions for these Grayscale crypto trusts will be based on their net asset value, with Grayscale managing a portfolio of 25 crypto assets, with leaders such as Bitcoin, Ethereum, Solana, and Litecoin.

This move follows a court ruling allowing Genesis Global to proceed with the sale of approximately 35 million shares in Grayscale’s GBTC fund, valued at over $1.3 billion. The flagship GBTC fund recently transitioned into a bitcoin ETF, becoming a frontrunner in trading volume since its launch. However, it has experienced a significant decline in value, losing over $6 billion.

FTX Clears Grayscale Stake as DCG Transfers Shares to Gemini

FTX, another major player, has sold nearly $1 billion in GBTC shares since the ETF conversion in January, depleting its Grayscale stake entirely.

Grayscale’s flagship product, the Grayscale Bitcoin Trust (GBTC), was introduced in September 2013.

Moreover, Grayscale’s parent company, DCG, has agreed to transfer these shares to Gemini, benefitting Gemini lenders amidst FTX’s recent troubles. Genesis emerged victorious in a dispute over the ownership of these shares, potentially paving the way for their sale to repay creditors.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.