The crypto market is booming, the market capitalization of the cryptocurrency network is now above $758.06 billion. This is higher than the market capitalization of Tesla. This is the highest it has ever been, and it still threatens to go even higher.
This increases the profitability of the market, keeps attracting the notice of investors. Recently, the cryptocurrency market has seen a sizeable influx of new investors, ready to stake money in the growing enterprise.
But lack of information and the relative newness of the market as compared to more traditional products such as stocks, bonds, and fiat currencies that have been around for years, has made a lot of investors insecure about investing in the crypto market.
Cryptocurrency markets have staged a smart recovery with the total global market capitalization jumping 10.17% in 24 hours leading to press time, as per CoinMarketCap data.
What Happened: Bitcoin (BTC) was up 10.01% at press time at $37,330.57 while Ethereum (ETH) rallied 5.48% higher at $1,105.77.
Grayscale Bitcoin Trust (OTC:GBTC) closed 3.67% higher at $40.35 on Wednesday. On the same day,
Grayscale Ethereum Trust (OTC:ETHE) closed 1.75% higher at $13.40.
Grayscale is making moves to dissolve its XRP Trust after having announced the liquidation of XRP positions from its
Grayscale Digital Large Cap Fund (OTC:GDLC).
The decision comes in the wake of the United States Securities and Exchange Commission filing a lawsuit against XRP linked company Ripple Labs, as per a statement. XRP traded 0.99% higher at $0.29 at press time.
Crypto Fund Manager Grayscale Reopens Deposits for New Clients
Last Updated: 12 January 2021
Grayscale Investments, the crypto industry’s largest institutional investment company, caused a bit of a stir after it closed investments into its top crypto trusts last month. Things seem to have changed, as the company now gears up for a major 2021 by opening deposits.
Ready for Investments
The New York-based investment firm is now opening deposits for most of its investment trusts, per information on its website.
The company confirmed that it has started accepting investments into its Grayscale Bitcoin Trust and the Grayscale Digital Large Cap Fund Trust. The Grayscale Ether Fund remains inactive. There is a strong possibility that could open that soon as well.
Grayscale Announces Private Placement Opportunities for Investors, Removes XRP from Digital Large Cap Fund
January 12, 2021 @ 11:22 am By JD Alois
Grayscale, a digital asset firm that has created a squadron of publicly-traded crypto funds, has announced that private placements for certain funds are now available for accredited investors.
An accredited investor is an individual that earns over $200,000 per year ($300,000 if married) or has a net worth of $1 million (not counting a primary residence.
Grayscale says these offerings occur on a periodic basis throughout the year.
Recently, Grayscale filed a series of Reg D documents with the Securities and Exchange Commission. These documents provide additional information such as the current amount invested and number of existing investors. For example, the Grayscale Bitcoin Trust reports over $5.5 billion in sales from 837 investors. A minimum of $50,000 is required to participate in the offering. Other funds require less.
Pfizer Inc (NYSE:PFE),
BioNTech Inc (NASDAQ:BNTX) and
Moderna Inc (NASDAQ:MRNA).
According to OTC Markets Group, overall dollar trading volume on the OTCQX Market, the top tier of OTC Markets, rose to nearly $11 billion in November, a 65% increase from October. On the OTCQB Venture Market, dollar volume rose 25% to nearly $2.5 billion.
“The elevated trading volume reflects an increase in interest from investors across our markets,” said OTC Markets Group EVP Of Corporate Services Jason Paltrowitz, noting that trading increased in
Roche Holding Ltd (OTCQX:RHHBY),
Danone (OTCQX:DANOY) and BNP Paribas (OTCQX:BNPQY), and
Heineken N.V. (OTCQX:HEINY). “The resolution of the election may have given investors confidence to put some capital to work there.”