BlockFi buys 5.07% of Grayscale Bitcoin Trust shares for $328 million

The crypto lending platform BlockFi acquired 5.07% of the Grayscale Bitcoin Trust (GBTC) shares. говорится in a report on the U.S. Securities and Exchange Commission (SEC) website.

According to the document, BlockFi owns more than 24.2 million GBTC shares, with a current market value of $328 million.

According to BlockFi CEO Zac Prince, the purchase was made in the interests of the company’s clients.

“There are lending markets related to this product. Our substantial involvement helps to increase its value for clients and the market for liquid and illiquid GBTC shares,” he said.

In the third quarter inflows into funds managed by Grayscale Investments totaled $1.05 billion. The trust enables investors to access the market for the world's first cryptocurrency without needing to hold it directly.

As of the end of October the value of Grayscale’s crypto assets under management reached $6.5 billion.

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