Grayscale Investments LLC has temporarily stopped accepting new investors in six funds, including its Ethereum Trust and Bitcoin Trust funds, both gateways for institutional crypto bets.
- The crypto asset manager's website said Monday that its Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin and Digital Large Cap Fund Trusts are "currently unavailable" for new investors.
- Grayscale periodically closes off its crypto trusts to so-called "private placement" rounds. Such action happened repeatedly to GBTC in Q4 2019 – so the Monday halting is not unusual.
- New York-based Grayscale is owned by Digital Currency Group, the parent company of CoinDesk.
CORRECTED 12/21/20 19:31: Rewrites headline to emphasize the closing is temporary. Corrects to note the trusts can still obtain capital from existing investors.
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