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Grayscale Ethereum Classic Trust to Get $50 Million Boost from Silbert's DCG

source-logo  u.today  + 7 more 21 June 2021 15:09, UTC

Venture capital behemoth Digital Currency Group (DCG) plans to purchase $50 million worth of f Grayscale Ethereum Classic Trust (ETCG) shares, the company announced Monday.

As reported by U.Today, Barry Silbert’s company announced that it would purchase $250 million worth of Grayscale Bitcoin Trust (GBTC) shares when they were trading at a steep discount.

It later boosted the limit of its purchases back to $750 million back in May.

ETCG shares are currently trading at a whopping 36 percent discount, according to data provided by YCharts.



GBTC, its crown jewel, hasn’t fared much better: it hasn’t been trading a premium since early March.

Companies tend to repurchase shares in order to boost the stock price. 


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