Digital asset manager Grayscale Investments has re-opened a number of its cryptocurrency products to new investors after they were closed last month.
- 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.
- 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.
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. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.