The total sum of the deal may amount to $250 million

Digital Currency Group plans to buy Grayscale fund crypto trust shares

04.03.2022 - 12:05

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1 min

What’s new? Barry Silbert, a well-known entrepreneur and founder of the Digital Currency Group (DCG), has posted a tweet about purchasing shares of several cryptocurrency trusts of the Grayscale Investments fund in the amount of $250 million at once.

Which shares will DCG buy back? According to published data, DCG will buy out securities of funds based on Zcash, Litecoin, Horizen, Bitcoin, Bitcoin Cash, Stellar, Ethereum, Ethereum Classic, and Digital Large Cap. The company’s release informs that the number and value of shares may be expanded or changed over time. The current purchase authorization does not oblige DCG to buy back the specified number of shares.

Interestingly, some of the trusts currently have a negative premium, meaning that the price of such funds’ securities is below the value of the market quotes. Ethereum Classic Trust also has this indicator at a negative level (-59%), as does Bitcoin Trust (-17%).

Author:

Michael Golikov Michael Golikov

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