Grayscale Investments Files for $500M IPO
Grayscale Investments, LLC, a New York City-based wholly-owned subsidiary of Digital Currency Group, Inc., has filed for a $500m IPO for the Bitcoin Investment Trust.
Initially launched as a private investment vehicle in September 2013, the Trust expects to list on the NYSE Arca.
Founded in 2013, Grayscale Investments is a wholly-owned subsidiary of Digital Currency Group, which builds and supports bitcoin and blockchain companies by leveraging its insights, network, and access to capital. Grayscale Investments provides market insight and investment exposure to the developing digital currency asset class.
The Bitcoin Investment Trust provides a secure structure to gain exposure to the price performance of bitcoin. Eligible shares are quoted on the OTCQX®, the marketplace operated by OTC Markets under the Alternative Reporting Standards and investors can buy and sell shares through most traditional brokerage accounts at prices dictated by the market.
First appeared at FinSMEs