Cryptocurrency (Mar 11, 2021 10:40AM ET)
Grayscale halts GBTC inflow after record 15% discount
Grayscale Investments’ Grayscale Bitcoin Trust (GBTC) has been under the heat for the last couple of weeks as it traded below the Bitcoin equivalent for each share. The instrument trades on over-the-counter markets and is by far the largest listed cryptocurrency asset.
Periodically, the private-placement offerings for GBTC shares are temporarily closed, along with similar products offered by Grayscale Investment such as its Ethereum trust. As of March 7, both GBTC and the Digital Large Cap Fund (GDLC) are under such periods.Grayscale Bitcoin Trust landing page. Source: GrayscaleGrayscale Bitcoin Trust premium to BTC. Source: TradingViewGrayscale Bitcoin Trust BTC-equivalent holdings. Source: Bybt