DCG Plans to Invest $500 Million in GBTC Fund
The increase in the limit of buying stock nominated in the main market cryptocurrencies was announced on Monday, May 3
Recall that the last limit for the acquisition of stock of the fund was $250m. At the moment, $193m has been invested in GBTC.
The investment will be financed with available funds. According to management, only three factors can interfere with the company's investment plans:
- The level of funds available
- Stock price listing
- Market conditions
Recall that Grayscale is the world's largest investment fund. Its assets exceed $36b.
According to the Ycharts report, the fund's stocks in crypto are trading at a discount of 9.9%. In the previous report, prepared by experts on April 22, the discount on stock was 19%.