Grayscales Digital Asset Investment Manager has resumed accepting new investments in almost all cryptocurrency funds. The investment manager stopped the inflow of new funds into six of his trust funds at the end of December 2020, just after the six-month blocking period for selling newly purchased shares on the Bitcoin Trust, which is traded under the GBTC, ended.
At the time of writing, products such as the Grayscale Bitcoin Trust and the Grayscale Digital Large Cap Trust are available to new investors, although the Grayscale Ethereum Trust is still not available. The Grayscale XRP Trust is inactive and will likely remain so. In early January, the fund manager ceased ownership of the original shortly after it became known about a major lawsuit filed by the US Securities and Exchange Commission against Ripple.
The grayscale system stops at regular intervals and resumes the influx of new investors into funds. During these closing periods, funds are open to private equity funds. In addition, all Grayscale cryptocurrency fund investors have a six-month closing period for newly acquired shares, after which they can freely sell shares on the open market to non-accredited investors.
Cryptocurrency investors are closely following the actions of Grayscale, which has grown to become the world’s largest asset manager. As of January 11, Grayscale managed $ 24.5 billion in assets in various cryptocurrencies. In early January, Cointelegraph reported that buying Grayscale bitcoins was three times as much as minting new coins, and limited a year of strong savings for fund managers.
Bitcoin is up nearly 10% over the week, trading at $ 35,833 at time of publication. Now that new investments are open, the six month booking period starts over again. Some analysts argue that as this period draws to a close, the bitcoin spot market will be pushed up as Grayscales GBTC shares went public.