- Digital Currency Group plans to purchase $250 million of GBTC shares.
- The Grayscale Investment Fund has surged in popularity with rising Bitcoin prices.
- Grayscale presently has $42.1 billion in net assets under management.
Digital Currency Group (DCG), a Grayscale parent firm announced that it plans to purchase $250 million of GBTC shares.
Digital Currency Group Plans to Buy $250M
Digital Currency Group (DCG) plans to purchase $250 million of GBTC shares. Moreover, the firm plans to use currency on hand to fund the purchases, which it said will happen in compliance with Rule 10b-18 of the Securities Exchange Act of 1934.
The company said,
“The actual timing, amount, and value of share purchases will depend entirely upon a number of factors, including the levels of cash available, price, and prevailing market conditions.”
The Grayscale Investment Fund has surged in popularity with rising Bitcoin prices. Even more, it has over $40 billion worth of assets under its management. Moreover, the GBTC Premium has stood high throughout its life span. More so, before registering a massive dip during the ongoing price cycle.
The Grayscale Bitcoin Trust launched in 2013 is the world’s largest bitcoin fund. In addition, offering investors the opportunity to gain exposure to the leading cryptocurrency. Furthermore, Grayscale presently has $42.1 billion in net assets under management across all its digital asset trusts and funds.
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