DCG to Buy More of Crypto Trust Amid Stubborn Discount The $36 billion Grayscale Bitcoin Trust was for a long time one of very few ways to get exposure to Bitcoin without buying the digital asset directly.
Vildana Hajric and Katie Greifeld | May 04, 2021
(Bloomberg) The parent company behind the popular Grayscale Bitcoin Trust said it’s upping the amount of shares it plans to purchase as the fund remains at a deep discount to its holdings.
Barry Silbert’s Digital Currency Group Inc., which controls Grayscale Investments, said Monday it will now buy up to $750 million GBTC shares. That’s a $500 million increase to the crypto giant’s announcement in March that it would scoop up to $250 million worth of the trust.