Grayscale targets new customers

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  • The grayscale official has informed that the time has come to open the private placement window.
  • GTBC’s premium is quite attractive and gives 30% compared to bitcoin.

Grayscale has started the recruitment of new customers which was suspended earlier on December 21st, 2020. The recruitment has been started for almost all the coins except Ethereum and XRP investment trusts. 

Grayscale, investment trust has started recruiting new customers. The trust had earlier stopped recruiting new customers from December 21st, 2020. However, in a fresh start, the firm is now looking for new customers. 

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The investment trust products have been started in almost all the coins except Ethereum investment trust and XRP investment trusts. In the last month of 2020, Grayscale has suspended the recruitment of new customers for six investment trust products like Bitcoin Investment Trust (GBTC) and Ethereum Investment Trust. 

Talking to the media firm, Grayscale official has informed that the time has come to open the private placement window. Grayscale provides investment trust products for virtual currency for institutional investors and accredited investors who are approved by the US Securities and Exchange Commission (SEC)

Investment and returns 

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The investment trust is stored for 6 months and then sold to the secondary market to the general investors. Hence, the investment trust product GTBC were released to the secondary market on 21st December. They were locked up till June. 

Grayscale follows the system for suspension and sell of the product. Before December 2020, the new shares were launched in June 2020. They were issued after the account opening had been suspended. After six months, new shares were suspended on 21st December. 

If compared to the spot price of Bitcoin, GTBC’s premium is quite attractive and gives 30% compared to bitcoin. However, an investor has to sell and buy them like general stocks. The investment is like an old age for eg: IRA accounts (individual retirement account). They are very attractive accounts and can be used as a vehicle. 

It is to be noted that Grayscale did not include XRP in its list of investment trust products. There are virtual currency stocks which have the highest market capitalization on the 5th of last month. They are popularly known as Digital Large Cap Fund. As for the 4th of this month, the position was liquidated. The amount that comes from the sales was given to Bitcoin, Ethereum, Bitcoin Cash and Litecoin. 

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Grayscale had informed that the reason for including XRP in the investment trust fund is due to its suspension that was announced on December 30. The reason for suspending it was the lawsuit filed against Ripple by the SEC. 

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Steve Anderrsonhttp://www.thecoinrepublic.com
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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