Grayscale Investments to Create Digital Large Cap Fund

New cryptocurrency investment fund will allow accredited investors to invest in crypto
08 February 2018   440

Investment company of Barry Silbert Grayscale Investments, which operates $ 2.17 billion, will launch a new Digital Large Cap Fund, which will allow accredited investors to invest in Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin.

The Digital Large Cap Fund actives will be distributed as follows:

  • Bitcoin (48.4%),
  • Ethereum (29.2%),
  • Ripple (12.7%),
  • Bitcoin Cash (7.2%) 
  • Litecoin (2.5%) .

We're excited to further expand the universe of Grayscale's product offerings as interest in the digital currency asset class continues to grow. As a trusted and experienced manager, Grayscale is committed to creating investment structures that are familiar to qualified investors and provide secure access to this emerging asset class.

Barry Silbert

CEO, Grayscale

Barry Silbert noted that some customers are ready to invest $ 100 million in the initiative. The public offering of the fund's shares will take place in about a year.

Miners Arrested in 2 Chinese Cities For Power Theft

Six people were detained in Tianjin and two in Wuhan
25 April 2018   58

Bitcoin miners were arrested in two Chinese cities on charges of stealing electricity. This is reported by CoinDesk.

In the first case, 6 people were detained in Tianjin. The suspects used 600 devices for mining bitcoins that were connected to a local substation. The police claim that the connection was made bypassing the counters.

The investigation was initiated after one of the electric power companies discovered a discrepancy between the actual and claimed consumption of electricity.

The police seized all equipment for mining, as well as 8 powerful fans.

Events are taking place while China continues to play a dominant role in the mining of bitcoin, despite the pressure on the cryptocurrencies. As Xinhua notes, this case of electricity theft turned out to be the largest in recent years.

According to another report, which appeared today on the website of the Supreme Prosecutor of China, two more suspects were detained in Wuhan. They also stole electricity.

The detainees used empty stores since March 2017 to house miners and did not pay for electricity, as did the defendants from Tianjin.