Investing
Grayscale Bitcoin Trust Assailed by Investor Over Discount
- Letter to board asks for tender offer to prop up share price
- Marlton says discount as of March 31 equals $3.1 billion loss
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An activist family office that owns shares in Grayscale Bitcoin Trust is demanding a tender offer to boost prices that had fallen about 8% below the value of the digital assets it holds.
As of March 31, the share price represented a $3.1 billion loss to shareholders compared with the Bitcoin it holds, according to a letter that Marlton LLC sent Tuesday to the board of Grayscale Investments LLC, the trust’s parent. Marlton declined to say how many trust shares it holds.