Grayscale Halts New Investments in GBTC
Earlier today, the investment manager’s parent company, Digital Currency Group, said it authorized the purchase of GBTC shares.
The digital asset manager added large numbers of altcoins to its holdings including horizen and livepeer.
The investment comes a little over a week after Grayscale confirmed that it would convert GBTC into an ETF.
The discount is the difference between the price of the underlying bitcoin asset and the value implied by the price of the trust’s shares.
The crypto markets data company said ETFs would solve the problem.
Grayscale's competitive moat is shrinking as rival offerings attract investor money, amid speculation the SEC might be moving to approve a bitcoin ETF.