Cryptocurrencies
DCG to Buy More of Crypto Trust Amid Stubborn Discount
- DCG said it could buy as much as $750 million of GBTC shares
- If GBTC converted into an ETF, discount would disappear: BI
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The parent company behind the popular Grayscale Bitcoin Trust said it’s upping the amount of shares it plans to purchase as the fund remains at a deep discount to its holdings.
Barry Silbert’s Digital Currency Group Inc., which controls Grayscale Investments, said Monday it will now buy up to $750 million GBTC shares. That’s a $500 million increase to the crypto giant’s announcement in March that it would scoop up to $250 million worth of the trust.