Grayscale Investments has resumed private placement of Grayscale Bitcoin Trust (GBTC) shares, according to a press release on July 8.
According to the announcement, the private placement of GBTC shares is offered periodically to accredited investors — as defined in Rule 501(a) of Regulation D under the Securities Act — for daily subscription.
As per the report, the GBTC shares are designed to let investors put money into bitcoin (BTC) via a traditional investment structure. The shares are intended to correlate closely in value to BTC, but they are shares held in an investor’s name rather than the cryptocurrency itself.
The announcement states that a share of GBTC currently represents 0.00097876 Bitcoin. At press time, GBTC reportedly holds over $2.66 billion in assets under management, a notable uptick from just months previously. Read More at CoinTelegraph...