Foreign media: Grayscale Bitcoin Trust suspends accepting new investments

Digital asset manager Grayscale has suspended accepting new investments in the Grayscale Bitcoin Trust (GBTC) after the fund traded at a record 15% discount to the price of Bitcoin.

It is reported that Grayscale will periodically close the private placement of GBTC and similar products. Unstable demand creates arbitrage opportunities. Investors can buy GBTC shares directly from Grayscale at par, hold them during the six-month lock-up period, and then sell them at a premium in the secondary market. Yesterday, Grayscale's parent company Digital Currency Group (DCG) announced plans to purchase up to $250 million in GBTC.