Yesterday, Bitcoin dropped to $30,000 from a high of $41,000. But today,appears to have levelled out to about $35,000, after recovering from lows of $30,000.
Grayscale Bitcoin Trust is Open to New Investors Again
Digital asset investment company Grayscale has re-opened its doors to new investors for the majority of its digital asset trusts.
TheBitcoin Trust applies periodic pauses on new investors. On December 21, the fund put a pause on new investors. It’s significant because the fund is one of the few places where institutional investors in the US can get exposure to Bitcoin. During this time, however, existing investors were still able to buy shares in the trust.
Investing in the Grayscale Bitcoin Trust requires a six-month lock-up period. In other words, new investors cannot sell their shares on the secondary market for the first six months.
As of yesterday, the Grayscale Bitcoin Trust held about $20 billion in assets under management.
The Grayscale Bitcoin Trust is not the only investment product on offer. Grayscale also provides investment opportunities for other major cryptocurrencies, includingand Litecoin.
At the time of writing, the Grayscale Ethereum Trust—which is yet to reopen—and the Grayscale Litecoin Trust hold $3 billion and $158 million in assets under management respectively.