{"id":38674,"date":"2021-03-10T17:54:15","date_gmt":"2021-03-10T15:54:15","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=38674"},"modified":"2025-08-30T05:54:15","modified_gmt":"2025-08-30T02:54:15","slug":"digital-currency-group-to-buy-up-to-250-million-of-grayscale-bitcoin-trust-shares","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/digital-currency-group-to-buy-up-to-250-million-of-grayscale-bitcoin-trust-shares\/","title":{"rendered":"Digital Currency Group to buy up to $250 million of Grayscale Bitcoin Trust shares"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Digital Currency Group (DCG), Barry Silbert&#8217;s firm, announced its readiness to buy Grayscale Bitcoin Trust (GBTC) shares worth up to $250 million.<\/span><\/p>\n<p><!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Digital Currency Group Announces Plan to Purchase Shares of Grayscale Bitcoin Trust (OTCQX: <a href=\"https:\/\/twitter.com\/search?q=%24GBTC&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$GBTC<\/a>)<a href=\"https:\/\/t.co\/hJPnjGko1O\">https:\/\/t.co\/hJPnjGko1O<\/a><\/p>\n<p>\u2014 Barry Silbert (@BarrySilbert) <a href=\"https:\/\/twitter.com\/BarrySilbert\/status\/1369635527239024643?ref_src=twsrc%5Etfw\">March 10, 2021<\/a><\/p>\n<\/blockquote>\n<p><script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">The venture firm plans to implement the initiative on the open market.<\/span><a href=\"https:\/\/u1f987.com\/en\/news\/messari-dcg-could-be-valued-at-4-3-billion-on-ipo\"><span style=\"font-weight: 400;\">\u00a0<\/span><\/a><\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/messari-dcg-could-be-valued-at-4-3-billion-on-ipo\"><span style=\"font-weight: 400;\">Grayscale is part of DCG&#8217;s empire<\/span><\/a><span style=\"font-weight: 400;\">, which Messari analysts valued at $4.3 billion in November.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The company stressed that the purchase decision can be revisited at any time, including terms and amount, or withdrawn entirely. Management will base its approach on available liquidity, the price of Bitcoin, and prevailing market conditions.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Details of the purchase will be disclosed in GBTC&#8217;s Form 10-K and 10-Q filings with the U.S. Securities and Exchange Commission (SEC).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Since February 23, GBTC shares have traded at a discount to Bitcoin&#8217;s price. At the time of writing, it stood at 3.22%.<\/span><\/p>\n<div id=\"attachment_127527\" style=\"width: 1221px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-127527\" class=\"size-full wp-image-127527\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/yCharts1003.png\" alt=\"Digital Currency Group \u0432\u044b\u0434\u0435\u043b\u0438\u0442 $250 \u043c\u043b\u043d \u043d\u0430 \u043f\u043e\u043a\u0443\u043f\u043a\u0443 \u0430\u043a\u0446\u0438\u0439 \u0431\u0438\u0442\u043a\u043e\u0438\u043d-\u0442\u0440\u0430\u0441\u0442\u0430 Grayscale\" width=\"1211\" height=\"358\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/yCharts1003.png 1211w, https:\/\/u1f987.com\/wp-content\/uploads\/yCharts1003-300x89.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/yCharts1003-1024x303.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/yCharts1003-768x227.png 768w\" sizes=\"auto, (max-width: 1211px) 100vw, 1211px\" \/><\/p>\n<p id=\"caption-attachment-127527\" class=\"wp-caption-text\">GBTC premium\/discount to NAV. Data: yCharts.<\/p>\n<\/div>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/arcane-research-explains-why-grayscales-gbtc-began-trading-at-a-discount\"><span style=\"font-weight: 400;\">Earlier, Arcane Research analysts explained<\/span><\/a><span style=\"font-weight: 400;\"> that the observed phenomenon is partly due to rivals launching similar products.<\/span><\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/blockfi-launches-a-competitor-to-grayscales-bitcoin-trust\"><span style=\"font-weight: 400;\">Earlier this year, the Bitcoin fund launched BlockFi<\/span><\/a><span style=\"font-weight: 400;\">, in January \u2014<\/span>\u00a0<a href=\"https:\/\/u1f987.com\/en\/news\/skybridge-capital-launches-bitcoin-fund-with-310-million-in-assets\"><span style=\"font-weight: 400;\">SkyBridge Capital<\/span><\/a><span style=\"font-weight: 400;\">; at the start of the year, Pantera Capital also announced similar plans<\/span><a href=\"https:\/\/u1f987.com\/en\/news\/pantera-capital-to-launch-bitcoin-fund-for-institutional-investors\"><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In Canada, the local regulator approved two applications to launch Bitcoin ETFs\u2014in February\u2014from<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/canada-registers-bitcoin-etf-ahead-of-the-united-states\"><span style=\"font-weight: 400;\">Purpose Investments<\/span><\/a><span style=\"font-weight: 400;\"> and from<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/ontario-approves-second-bitcoin-etf\"><span style=\"font-weight: 400;\">Evolve Funds Group<\/span><\/a><span style=\"font-weight: 400;\">. In the first two days, the first of these attracted<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/first-bitcoin-etf-in-north-america-attracts-421m-in-two-days\"><span style=\"font-weight: 400;\">$421 million<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the United States, applications to register Bitcoin ETFs with the SEC were filed by<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/nydig-files-to-launch-bitcoin-etf\"><span style=\"font-weight: 400;\">NYDIG<\/span><\/a><span style=\"font-weight: 400;\">,<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/bitwise-files-new-sec-application-for-bitwise-crypto-innovators-etf\"><span style=\"font-weight: 400;\">Bitwise<\/span><\/a><span style=\"font-weight: 400;\">,<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/vaneck-submits-new-filing-to-launch-bitcoin-etf\"><span style=\"font-weight: 400;\">VanEck<\/span><\/a><span style=\"font-weight: 400;\">, and<\/span> <a href=\"https:\/\/u1f987.com\/en\/news\/sec-receives-new-bitcoin-etf-registration-filing\"><span style=\"font-weight: 400;\">Valkyrie Digital Assets<\/span><\/a><span style=\"font-weight: 400;\">. None had been approved by the regulator at the time of writing.<\/span><\/p>\n<p>Subscribe to ForkLog&#8217;s channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Digital Currency Group (DCG), Barry Silbert\u2019s firm, announced its readiness to buy Grayscale Bitcoin Trust (GBTC) shares worth up to $250 million.<\/p>\n","protected":false},"author":1,"featured_media":38675,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,184,1214,943],"class_list":["post-38674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-dcg","tag-grayscale-bitcoin-trust","tag-grayscale-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"27","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/38674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=38674"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/38674\/revisions"}],"predecessor-version":[{"id":38676,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/38674\/revisions\/38676"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/38675"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=38674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=38674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=38674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}