Digital asset investment manager Grayscale has resumed accepting new investments in almost all of its cryptocurrency trusts. The investment manager had stopped new inflows in six of its trusts by the end of December 2020, just as the six-month lock-in period for the sale of newly bought shares in its Bitcoin Trust, which trades under the ticker GBTC, was winding down.
At the time of writing, products such as the Grayscale Bitcoin Trust and the Grayscale Digital Large Cap Fund Trust are all available to new investors, although the Grayscale Ethereum Trust is still not available. The Grayscale XRP Trust is inactive and is likely to remain so. In early January, the fund manager had wound up its holdings of the asset shortly after news of a major lawsuit filed by the United States Securities and Exchange Commission against Ripple.
Grayscale stops at regular intervals and resumes the influx of new investors into its funds; during these periods of closure, the funds remain open to private investment funds. In addition to this, all investors in Grayscale Cryptotrust are subject to a six-month lock-in period for newly purchased shares, after which they are free to sell the shares on the open market to non-accredited investors.
Crypto investors are keeping a close eye on the action of Grayscale, which has developed into the world’s largest asset manager of cryptocurrency. As of January 11, Grayscale has $ 24.5 billion in assets across its various cryptocurrencies. In early January, the Cointelegraph reported that Grayscale’s purchase of Bitcoin exceeded the mark of new coins by a factor of three and limited a year of aggressive accumulation by the fund manager.
Bitcoin is close to 10% per week and trades at $ 35,833 per. Press time. As new investments are now open, the six-month lock-in period begins again. Some analysts have argued that as this period nears its end, the Bitcoin spot market will be driven higher as shares of Grayscales GBTC hit the open market.