Grayscale Once More Accepting New Clients for Most Crypto Trusts
Grayscale's ether and XRP trusts are still closed to new investors.
Jan 12, 2021 at 1:27 p.m. UTCUpdated Aug 19, 2021 at 6:35 a.m. UTC
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Digital asset manager Grayscale Investments has re-opened a number of its cryptocurrency products to new investors after they were closed last month.
- Trusts for bitcoin, bitcoin cash, ethereum classic, litecoin and the Digital Large Cap Fund are now again accepting clients, according to its website but the Grayscale Ethereum Trust is not.
- On Dec. 21, the cryptocurrency asset manager's website said the six products were “unavailable" to new investors.
- While no explanation was given, the move was not unusual: Grayscale periodically closes off its crypto trusts to investors.
- At press time, the XRP Trust is also closed.
- On Jan. 5, Grayscale announced the removal of XRP from its Digital Large Cap Fund after the U.S. Securities and Exchange Commission filed a lawsuit against Ripple, alleging it had conducted an unregistered sale of securities with the XRP token.
- Data tweeted by Grayscale on Monday showed assets under management were at $24.5 billion, with the Grayscale Bitcoin Trust making up the lion's share with $20.6 billion.
- New York-based Grayscale is owned by Digital Currency Group, the parent company of CoinDesk.
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