Grayscale parent company

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Content:

• GRAYSCALE BITCOIN TRUST (BTC)
• CoinDesk Parent Bets Directly on Bitcoin through Grayscale Trust
• Digital Currency Group Announces Plan to Purchase Shares of Grayscale Bitcoin Trust (OTCQX: GBTC)
• U.S. investment firm plans launch of first ever ethereum classic private fund
• Digital Currency Group Plans to Put up to $750 Million into Shares of Grayscale Bitcoin Trust
• Grayscale parent Digital Currency Group raises $700 million

WATCH RELATED VIDEO: What Is Grayscale And How Is It Changing The Cryptocurrency World Forever?

GRAYSCALE BITCOIN TRUST (BTC)

The share purchase authorization does not obligate DCG to acquire any specific number of shares in any period, and may be expanded, extended, modified, or discontinued at any time. 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.

Founded in by CEO Barry Silbert, DCG is the most active investor in the blockchain sector, with a mission to accelerate the development of a better financial system through the proliferation of digital assets and blockchain technology. Today, DCG sits at the epicenter of the industry, backing more than blockchain-related companies in over 35 countries. DCG also invests directly in digital currencies and other digital assets. In addition to its investment portfolio, DCG is the parent company of Genesis a global digital asset prime brokerage , Grayscale Investments the largest digital currency asset manager , CoinDesk a leading financial media, data, and information company , Foundry a leader in bitcoin mining and staking , Luno a leading cryptocurrency platform with a large international footprint and TradeBlock a leading provider of tools and data for institutional cryptocurrency traders.

Through its family of investment products, Grayscale provides access and exposure to the digital currency asset class in the form of a security without the challenges of buying, storing, and safekeeping digital currencies directly. Grayscale products are distributed by Genesis Global Trading, Inc. For more information, please visit grayscale. These uncertainties may cause actual future events to be materially different than those expressed in our forward-looking statements, including with respect to the duration of the purchase program.

We do not undertake to update our forward-looking statements. View source version on businesswire. Media Contact: Mark Murphy dcg fullyvested. Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more! Serious News for Serious Traders! Try StreetInsider.

CoinDesk Parent Bets Directly on Bitcoin through Grayscale Trust

The Manhattan-based, private company announced a secondary round on Monday, in which existing investors are selling shares to new backers. Digital Currency Group is the parent company of several big names in the crypto space. Its flagship Grayscale Bitcoin Trust is the largest bitcoin fund in the world, and recently applied to convert into an ETF. DCG, as it's also called, owns prime brokerage and institutional lending firm Genesis, as well as news outlet CoinDesk, and has backed more than blockchain companies. Silbert said CapitalG brings Alphabet and Google's expertise in data and consumer companies, while Softbank has the global footprint and ability to turbo-charge portfolio companies. The investment also signals new interest by venture capital firms looking for exposure to the digital asset class outside of bitcoin.

Digital Currency Group Announces Plan to Purchase Shares of Grayscale Bitcoin Trust (OTCQX: GBTC)

The American venture capital company announced its secondary round, in which existing investors are selling shares to new backers. DCG is the parent company of some big names in the crypto space. Grayscale Bitcoin Trust represents the largest Bitcoin fund in the world. It recently applied to convert into an ETF. CapitalG founder and general partner David Lawee added that he saw this as a way to back a potential winner in crypto-financial services. DCG also holds various digital assets, including Bitcoin. Bloomberg -- When Amazon. But look down just one layer, and you'll see more pain.

U.S. investment firm plans launch of first ever ethereum classic private fund

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Digital Currency Group Plans to Put up to $750 Million into Shares of Grayscale Bitcoin Trust

Grayscale manages the Bitcoin Investment Trust, which is a private investment vehicle wholly devoted to bitcoin, and was the first of its kind in the U. Grayscale also manages investment trusts for bitcoin cash, ethereum, ethereum classic, horizon, Litecoin, stellar lumens, XRP and zcash, as well as the Grayscale Digital Large Cap Fund, the first listed diversified crypto asset investment vehicle in the U. These trusts are structurally similar to commodity ETFs in that their value in theory reflects the value of the underlying asset, and they are accessible through traditional brokerage and retirement accounts. However, they are traded over the counter OTC rather than on exchanges. Initial shares are only available to accredited investors, who are subject to a lock-up of months before being able to sell their shares to the general public. The trusts do not currently operate a redemption mechanism, which limits the initial liquidity.

Grayscale parent Digital Currency Group raises $700 million

The share purchase authorization does not obligate DCG to acquire any specific number of shares in any period, and may be expanded, extended, modified, or discontinued at any time. 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. Founded in by CEO Barry Silbert, DCG is the most active investor in the blockchain sector, with a mission to accelerate the development of a better financial system through the proliferation of digital assets and blockchain technology. Today, DCG sits at the epicenter of the industry, backing more than blockchain-related companies in over 35 countries. DCG also invests directly in digital currencies and other digital assets. In addition to its investment portfolio, DCG is the parent company of Genesis a global digital asset prime brokerage , Grayscale Investments the largest digital currency asset manager , CoinDesk a leading financial media, data, and information company , Foundry a leader in bitcoin mining and staking , Luno a leading cryptocurrency platform with a large international footprint and TradeBlock a leading provider of tools and data for institutional cryptocurrency traders. Through its family of investment products, Grayscale provides access and exposure to the digital currency asset class in the form of a security without the challenges of buying, storing, and safekeeping digital currencies directly.

It has backed more than blockchain companies and also owns Genesis, a prime brokerage and institutional lending firm. The participants in the secondary round are investors interested in the digital assets space and not necessarily in cryptocurrencies such as bitcoin, according to Silbert, who was speaking to CNBC. In turn, DGC was looking for serious backers with a long-term investing horizon. Silbert confirmed to CNBC that he did not sell any of his shares in the round.

The move represents a coming together of two giants from their respective industries to provide services to crypto investors. The announcement also marks BNY Mellon's expanded presence in the cryptocurrency ecosystem. The custodian already provides its services to prominent ETFs. Earlier this year, it announced an investment into a crypto startup and set up a team to design cryptocurrency management services for clients. It outlined its main concerns in a January letter.

While the Securities and Exchange Commission has allowed the derivatives-based product to launch, it has yet to permit the kind of structure used by Grayscale, which directly holds the largest cryptocurrency. Grayscale hired a global ETF head in August to further those efforts. GBTC currently holds roughly 3. But it could also be seen as a way to sidestep obsolescence, with the advent of Bitcoin ETFs threatening to draw assets away from a product that investors have tolerated due to the lack of an alternative. The number of outstanding shares in the fund has ballooned over the past 12 months as Bitcoin soared. There is more pain at the pumps for Canadian drivers this week as gasoline prices climb to new record highs.

Grayscale shreds the hype about Bitcoin's power to 'democratize' finance by showing that RIAs really want a dominant Wall Street middleman and are willing to pay hedge-fund-like fees for 'transparency' and an SEC-approved wrapper. The New York City manager landed Schwab, Wealthfront and now the UHNW alts platform, iCapital, to provide a crypto asset that incites exuberant hopes, crippling fears and little between. September 28, — PM by Oisin Breen. Be careful what you wish for.