Grayscale Investments to Launch 5 Crypto Funds

The company declined to name the four new cryptocurrencies it would target, but said the funds would be structured like the Bitcoin Investment Trust
25 January 2018   303

Grayscale Investments, the Bitcoin Investment Trust sponsor, announced on Tuesday its plans to offer four new single-currency crypto funds and another based on a basket of digital currencies by the start of April.

By the end of the first quarter of this year, we’ll have a total of eight investment products. We’re super excited about the new basket productю That vehicle will hold the top liquid digital currencies, it will be market cap-weighted, and balanced on a quarterly basis.


Michael Sonnenshein

Director, Grayscale Managing

Sonnenshein declined to name the four new cryptocurrencies it would target, but said the funds would be structured like the Bitcoin Investment Trust, giving investors the ability to gain exposure to digital currencies through the purchase of a security. He declined to say how many cryptocurrencies the basket would include.

Grayscale, which tried to list the Bitcoin trust last year on the NYSE Arca market before the plan was scrapped, doesn’t intend to target its new products to the exchange, he added.

Along with the Bitcoin vehicle, Grayscale already offers Ethereum Classic and Zcash funds.

First real-life cryptocurrency robbery reported in Taiwan

Four men stole 5 million Taiwanese dollar worth of Bitcoin, the police has already arrested the suspects
22 February 2018   52

Bitcoin has attracted lots of unwanted attention from hackers and scammers alike. Recently not a week passes without news of an exchange or user being hacked or some company's computers being hijacked to mine cryptocurrency. And now Taiwanese news outlets report first real-life robbery of Bitcoin in their country.

The robbery took place in Taichung, Taiwan's central city. The police reports three men being involved in the robbery itself and one as a planner. Criminals persuaded the victim to meet with them face-to-face under the guise of being interested in buying Bitcoin from him. After the victim showed the robbers the proof of his bitcoins on his phone, the men attacked him and his friend and transferred 18 bitcoins worth 5 million Taiwanese dollar via the phone wallet.

The suspects then forced the unfortunate seller to drink strong local liquor to make everything look like a drunken fight had taken place. The police arrived at the scene after receiving the reports of a fight and found two victims. Two of the offenders had fled, but the third has been arrested at the scene of the crime. He later provided investigation with information about his accomplices. They were arrested soon after.

The police later apprehended the man believed to be the mastermind behind the plan. All this was released in the yesterday's report by the Taiwanese law enforcement and the case is already viewed as “the first domestic case of bitcoin robbery”. The report doesn't mention if the crypto was returned to the rightful owner.

Similar cases has been rumored to happen in the US, but no records are released as of yet. So the unofficial governmental advice is to be more cautious of the buyers requesting face to face meetings in the light of this event.