Grayscale Investments' Bitcoin Trust opens doors for private placement again

Crypto asset management firm Grayscale Investments has announced that the Grayscale Bitcoin Trust (GBTC) will resume private placement of its shares for investors.

In a recent piece by The Wall Street Journal, the publication recognized GBTC for its impressive run for this year. For context, its asset management fund is actually up nearly 300 percent thanks to the impressive YTD appreciation of 296 percent as of July 9. This is nothing short of phenomenal, especially when placed alongside S&P 500’s 18.7 percent and Global Dow’s 12.9 percent.

A huge part of its incredible performance is being attributed to its savvy bitcoin trading practices, as well, which is why this particular outcome is not unprecedented nor is it the most mind-blowing. The fund actually saw a 1,391.44 percent appreciation due to the 2017 BTC bull run.

This is why its recent press release about opening its private placement can be considered a major opportunity for investors. The fund had already proven that it is capable of pulling off major wins. The press release also provides details as to what exactly the investors are going to get out of this new offer.

“The Trust’s investment objective is for the value of its shares to reflect the price performance of Bitcoin (based on Bitcoin per Share), less fees and expenses. The Trust is solely and passively invested in Bitcoin and was created for investors seeking exposure to Bitcoin through a traditional investment vehicle. As of July 8, 2019, the Trust has more than $2.66 billion in assets under management (AUM) and each Share of the Trust represents 0.00097876 Bitcoin,” it reads.