GBTC’s premium flipped negative one day earlier.
The digital currency asset manager's new executives bring with them experience at firms such as Goldman Sachs, Bank of America and Ripple Labs.
The fund charges a 1.75% management fee and offers custody from Fidelity Digital Asset Services.
The fund is starting out with $20 million in AUM, largely from family offices, and touts lower fees than the Grayscale Bitcoin Trust.
Trusts for aave, cosmos and polkadot, as well as privacy coin monero and cardano, have been registered in Delaware.
Trusts for chainlink, basic attention token, decentraland, livepeer and tezos were all recently registered in Delaware.
Grayscale's popular bitcoin trust once again led the pack with over $200 million in inflows every week.
Cash proceeds from the Trust’s liquidated XRP will be distributed to Trust shareholders, Grayscale said.
An ETF could draw institutional money from the Grayscale Bitcoin Trust, a support for the price of the cryptocurrency, the report said.
Michael Sonnenshein said institutions are also making larger allocations to its crypto products.
Grayscale announced it ditched XRP on Dec. 31. Additionally, the firm's XRP Trust stopped accepting new subscriptions on Dec. 23.
The firm's bitcoin assets under management rose by more than $3 billion in a week.
Digital asset investment firm Grayscale is sucking up so much bitcoin it could sway prices.
A recap of 5+ insanely bullish stories that got buried in the bitcoin price action.
Grayscale's bitcoin and ether trusts now make up almost the entire $13 billion in AUM value.