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Grayscale Investments has reopened most of its crypto trusts to new investors

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New York-based digital asset manager Grayscale LLC has once again opened its doors to new investors for most of its crypto trusts. The company had stopped accepting new investors at the end of December 2020.

It is not uncommon for Grayscale to temporarily stop at new inverters. On December 21, the fund stopped six of its cryptocurrency products for new investors. This is notable because Grayscale is one of the few crypto funds in the US that allows clients to gain exposure to the flagship cryptocurrency. While digital asset trusts were not available at the time, existing investors in the fund were still able to purchase shares.

At press time, Grayscale products like Bitcoin Trust, Ethereum Classic Trust, Bitcoin Cash Trust, Litecoin Trust, and Digital Large Cap Fund are available to new investors. Ethereum Trust has yet to resume accepting new investments.

In particular, the XRP Trust is also closed and possibly will remain so for the foreseeable future. On January 5, Grayscale revealed that it had liquidated all XRP positions in its large-cap fund. This came shortly after the United States Securities and Exchange Commission (SEC) filed a damning lawsuit against Ripple, alleging that the company and its top executives sold approximately $ 1.3 billion worth of the XRP token in sales of unregistered securities. .

Grayscale has notably emerged as the world's largest digital asset fund. As of Monday (January 11), the fund had a staggering number of $ 24.5 billion assets under management across your entire school of investment products. The Grayscale Bitcoin Trust has the lion's share with over $ 20 billion.

Bitcoin's price plummeted to $ 30,000 yesterday after hitting highs of $ 42,000 over the weekend. However, cryptocurrency # 1 recovered quickly and appears to have stabilized above $ 34,000 as of this writing.





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