What is a grayscale investment trust?

Grayscale is an investment trust. Investment trusts are public limited companies, and are closed ended — this means the fund managers cannot redeem or create shares. In "TradFi" as crypto lingo goes, an investment trust can invest in other companies, while investors own shares in the trust to gain exposure to the companies.

Does grayscale own GBTC?

Grayscale operates the Grayscale Bitcoin Trust (GBTC), which has $10 billion-plus in assets under management. Digital Currency Group (DCG) has started selling holdings in several investment vehicles run by its subsidiary and digital assets manager Grayscale at a steep discount, according to a Financial Times report citing U.S. securities filings.

Why is Digital Currency Group selling shares in grayscale trusts?

As the Financial Times reports today, Digital Currency Group has already begun selling shares in several of its most valuable Grayscale trusts at a steep discount. The sales are intended to raise capital to pay creditors from bankrupt Genesis Trading.

Is Digital Currency Group (DCG) selling its shares at a steep discount?

REUTERS/Dado Ruvic Feb 7 (Reuters) - Digital Currency Group (DCG) is selling shares in several of its cryptocurrency funds at a steep discount and has started offloading its holdings in investment vehicles run by subsidiary Grayscale, the Financial Times reported on Tuesday.