According to a press release, Grayscale Investments has resumed the private placement of its GBTC investment trust.
In the publication
it says that the company places shares in the GBTC for accredited investors in certain time intervals in accordance with rule 501 (a) of Section D of the Law on Securities in a daily subscription.
Grayscale reported that GBTC is used by accredited investors to invest in Bitcoin through traditional investment structures, but the value of the securities may deviate from the value of the instrument underlying the trust – Bitcoin.
“At the moment, the trust does not conduct a program to redeem its own securities, and accordingly there are no guarantees that their value will be comparable to the price of Bitcoin when trading on the secondary market. GBTC shares can fluctuate in a wide range and trade as much higher than Bitcoin, and significantly lower, ”writes Grayscale.
One GBTC share corresponds to 0.00097876 BTC in the company’s assets. The total amount of all assets under trust management is more than $ 2.66 billion. In May this figure was about $ 2.1 billion, of which $ 1.97 billion was bitcoins.
Earlier, analysts Grayscale noted that the growth of Bitcoin by 47% from the beginning to the end of May occurred against the background of aggravated trade relations between the United States and China. At this time, the first cryptocurrency was the most successful asset for investment, and the yuan, by contrast, lost in value.
At the end of June, Forbes drew
attention to the fact that GBTC has become the most successful tool, which bypassed gold, dollar, oil, S & P500 index and even Bitcoin by profitability.