Some distress signal in the Grayscale Group:
Digital Currency Group Announces Plan to Purchase Shares of Grayscale Bitcoin Trust (OTCQX: GBTC)NEW YORK--(BUSINESS WIRE)--Digital Currency Group, Inc. (“DCG”), the parent company of Grayscale Investments, LLC, has authorized the purchase by DCG of up to $250 million worth of shares of Grayscale Bitcoin Trust (OTCQX: GBTC). DCG plans to use cash on hand to fund the purchases and will make the purchases on the open market, at management’s discretion, in compliance with Rule 10b-18 under the Securities Exchange Act of 1934 (the “Exchange Act”).
DCG, will buy their subsidiary fund shares in the open market, using their free cash, so they are going to erase the negative premium.