Quote from: fillippone on Today at 02:00:17 PM

Some distress signal in the Grayscale Group:

Digital Currency Group Announces Plan to Purchase Shares of Grayscale Bitcoin Trust (OTCQX: GBTC)

Quote

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. Maybe only the announcement of a potential buy will help mitigate the negative premium.

I just saw this news was well. But I'm curious, as I am not very familiar with a Trust vehicle, is it legal for the parent of the trust to buy shares of the subsidiary trust?

Also, if you look https://boards.greenhouse.io/grayscaleinvestments, you see that Grayscale has about 10 job openings related to ETF specialization.

ETF Authorized Participant Relationship Manager
ETF Compliance Office
ETF Creation & Redemption Specialist
ETF Finance Reporting Manager
ETF Finance Support Manager
ETF Market Maker Relationship Manager
ETF Product Development Specialist
ETF Sales Director (East)
ETF Sales Director (West)

This seems to lend credence to the rumors that Grayscale may convert their Trust to an ETF, or at least create an separate bitcoin ETF altogether. Hmm.