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Grayscale Stops Accepting New Investors Temporarily

Grayscale Stops Accepting New Investors Temporarily
  • Grayscale has halted investments for new clients in six crypto Trusts.
  • The stop is temporary.
  • Existing investors can still invest and trade

Grayscale has stopped accepting investments in six of its Trusts. The halting happened a few days after the Bitcoin price surged to new all-time highs. However, the company said this change affects only new clients.

The company said on Monday that it stopped accepting investments in its six Trusts. These six include Bitcoin, Ethereum, Bitcoin Cash, and Ethereum Classic. Also, Litecoin, and the Digital Large Cap Fund Trust. According to the team, the halt is just temporary. However, they did not mention when it will resume.

The halts occurred after the six-month lock-up days for selling recently-purchased parts of the Bitcoin fund, traded under the symbol GBTC, came to an end.

Grayscale Stops Accepting New Investors Temporarily 1

Corey Law, a spokesperson for Grayscale, told Decrypt that they are at that point in the year that the public window will be closing. But the private window will be open.

According to GBTC in Q4 2019, this temporary halt has happened in the past. Therefore, Monday halting isn’t unusual.

Jesus is the Senior Editor of CoinQuora. He's been following the crypto space since 2016, and may possibly do so indefinitely. He covers various blockchain-based developments and crypto market trends.