Prominent digital asset management firm, Grayscale, announced that it will now again be taking on new crypto investments as it reinstates several trusts that were paused last December 2020. This announcement came amidst the continual price hike of Bitcoin (BTC) within the market, wherein it astoundingly hit over $40,000 within the early days of 2021. BTC stands at over $35,000 per BTC, as of press time.
According to the firm’s announcement, Grayscale’s Bitcoin Trust and Digital Large Cap Fund are now accepting new clients once more. Its Ethereum Trust, however, remains noticeably closed alongside the XRP Trust. The latter was closed earlier this month due to Ripple’s ongoing legal battle against the US Securities and Exchange Commission (SEC), wherein it is accused of violating several outstanding regulations. Grayscale has since liquidated its entire XRP fund to then use to further its other offered products.
While no concrete explanation was disclosed on why the trusts were closed in the first place, the move was lightly taken by the public and came off as not unusual. This is because Grayscale has already made it a habit to periodically pause and then resume its trust to its investors, all the while still taking on private placement funds. Taking that into consideration, the firm opening its trust once again was indeed unsurprising; however, many still belie