DCG sells grayscale investment products: news | coindesk JAPAN | coin desk Japan

Digital Currency Group (DCG) has begun selling several investment products run by its subsidiary crypto asset management firm Grayscale at significant discounts. The Financial Times reports, citing securities reports.

Grayscale operates the Grayscale Bitcoin Trust (GBTC), which has over $10 billion in assets under management and was trading at record discount rates at the end of 2022, but has recently recovered. rice field.

Related article: Grayscale Bitcoin Trust’s discount rate shrinks to first level in eight weeks

Grayscale, Genesis, and CoinDesk are all owned by DCG.

On January 20, Genesis Global Holdco LLC, the holding company of Genesis Global Capital, a cryptocurrency lending company, filed for Chapter 11 (Chapter 11) bankruptcy protection. In addition, CoinDesk reported on the 6th that DCG has agreed with a group of major creditors to sell not only Genesis’s cryptocurrency lending division (which is undergoing restructuring due to bankruptcy filings), but also its trading business.

Related article: Genesis also sells trading division; parent company DCG agrees with creditors

According to the Financial Times, DCG’s investment product sales have been concentrated in its Ethereum (ETH) fund, which has sold about $22 million worth in multiple transactions since Jan. 24. are doing. At face value, it should be worth $16, but the company sold it for about $8, which DCG said was “just part of an ongoing portfolio rebalancing,” according to people familiar with the matter.

DCG and Grayscale have not yet responded to requests for comment.

|Translation: coindesk JAPAN

|Editing: Takayuki Masuda

|Image: Shutterstock

|Original: DCG Is Selling Holdings in Grayscale: Financial Times