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Grayscale Once More Accepting New Clients for Most Crypto Trusts

Grayscale's ether and XRP trusts are still closed to new investors.

Jan 12, 2021 at 1:27 p.m. UTC
Updated Sep 14, 2021 at 10:54 a.m. UTC

Digital asset manager Grayscale Investments has re-opened a number of its cryptocurrency products to new investors after they were closed last month.

  • Trusts for bitcoin, bitcoin cash, ethereum classic, litecoin and the Digital Large Cap Fund are now again accepting clients, according to its website but the Grayscale Ethereum Trust is not.
  • On Dec. 21, the cryptocurrency asset manager's website said the six products were “unavailable" to new investors.
  • While no explanation was given, the move was not unusual: Grayscale periodically closes off its crypto trusts to investors.
  • At press time, the XRP Trust is also closed.
  • On Jan. 5, Grayscale announced the removal of XRP from its Digital Large Cap Fund after the U.S. Securities and Exchange Commission filed a lawsuit against Ripple, alleging it had conducted an unregistered sale of securities with the XRP token.
  • Data tweeted by Grayscale on Monday showed assets under management were at $24.5 billion, with the Grayscale Bitcoin Trust making up the lion's share with $20.6 billion.
  • New York-based Grayscale is owned by Digital Currency Group, the parent company of CoinDesk.

DISCLOSURE

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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