Digital asset investment manager Grayscale has again accepted new investments in almost all of its cryptocurrency funds. The investment manager interrupted new inflows in six of its funds at the end of December 2020, just when the six-month blackout period for the sale of recently acquired shares in its Bitcoin Trust, which trades under the GBTC ticker, was ending.
At the time of writing, products like the Grayscale Bitcoin Trust and the Grayscale Digital Large Cap Fund Trust were all available to new investors, although the Grayscale Ethereum Trust remained unavailable. The Grayscale XRP Trust is inactive and is likely to remain so. In early January, the fund manager liquidated its holdings in the asset shortly after news of a major lawsuit filed by the United States Securities and Exchange Commission against Ripple.
The gray scale stops and periodically resumes new investors entering their funds; during these closing periods, the funds remain open for private placement funds. In addition, all investors in grayscale crypto trusts are subject to a six-month blackout period for newly acquired shares, after which they are free to sell shares on the open market to non-accredited investors.
Crypto investors keep an eye on gray-scale stocks, which has become the world’s largest cryptocurrency asset manager. As of January 11, the gray scale $ 24.5 billion assets under management in its various crypto funds. In early January, Cointelegraph reported that grayscale Bitcoin purchases were overtaking new coinage by a factor of three, ending a year of aggressive accumulation by the fund manager.
Bitcoin was up almost 10% in the week, trading at $ 35,833 so far. With new investments now open, the six-month blackout period begins again. Some analysts claim that when that period comes to an end, the Bitcoin spot market goes up as the grayscale GBTC shares reach the open market.