Xapo, Inc. appointed Custodian for the Bitcoin Investment Trust’s assets by Grayscale Investments LLC

Xapo, Inc. appointed Custodian for the Bitcoin Investment Trust’s assets by Grayscale Investments LLC

Grayscale Investments LLC, a wholly-owned subsidiary of Digital Currency Group, Inc. has appointed Xapo Inc. as Custodian for the Bitcoin Investment Trust's (OTCQX: GBTC) assets.  A pioneer in digital currency investing, the BIT is an open-ended trust solely invested in and deriving value from the price of bitcoin.

"As the Bitcoin Investment Trust continues to grow its assets under management and provide the global investment community with a familiar and transparent structure to gain bitcoin exposure, we are excited to partner with Xapo. As a leader in the bitcoin vaulting and storage space, Xapo joins the ranks of the Bitcoin Investment Trust's other leading service providers," said Barry Silbert, CEO of Digital Currency Group and Creator of the Bitcoin Investment Trust.

Originally launched in September 2013, eligible shares of the Bitcoin Investment Trust became the first publicly-quoted bitcoin investment securities, debuting on OTC Markets' Best Marketplace, OTCQX, in early May 2015.

"We feel pleased that a team as knowledgeable as Digital Currency Group and Grayscale chose Xapo as Custodian for the Bitcoin Investment Trust. Moreover, Xapo is excited to work on such a groundbreaking project: the BIT will have a large, positive impact on the future of both bitcoin and the investment community," said Wences Casares, Founder and CEO of Xapo.

For further inquiries regarding the Bitcoin Investment Trust, please contact the Grayscale team via e-mail at info@grayscale.co.

About Grayscale

Founded in 2013, Grayscale is a wholly-owned subsidiary of Digital Currency Group, Inc., which builds, incubates and seeds bitcoin and blockchain technology-related companies.

The trusted authority on digital currency investing, Grayscale provides unparalleled market insight and investment exposure to the developing digital currency asset class. The first in Grayscale's line of investment products, the BIT provides access to the investment opportunity of bitcoin securely and seamlessly. The BIT's shares are the first publicly quoted securities (ticker: GBTC) solely invested in and deriving value from the price of bitcoin.

Grayscale is headquartered in New York City: http://www.grayscale.co/

About Xapo

Xapo provides an easy to use bitcoin wallet combined with a deep cold storage vault.  Bitcoin stored in the Xapo Vault reside on multisignature address, the private keys for which are protected by intense cryptographic, physical and process security.

Xapo was founded in 2014 and has raised $41 million from Benchmark, Greylock Partners, Fortress Investment Group and other premier investors.   Its Advisory Board includes Former Treasury Secretary Larry Summers, John Reed, former Chairman of Citibank and Dee Hock, the founder of Visa.

Xapo Inc., is a Delaware company with offices in Woodside, CA, and serves customers in the United States.  Its affiliate, Xapo Limited, serves customers globally outside the United States.

Xapo: http://www.xapo.com/


Related News

Barry Silbert Now Competes With Winklevoss Twins, SolidX for Launching First Bitcoin ETF in 2017

A new Bitcoin ETF provider has entered the competition alongside Winklevoss Bitcoin Trust and SolidX. Grayscale Investments, the child company of Barry Silbert’s Digital Currency Group, filed an S-1 registration statement with the Securities and Exchange Commission (SEC) to list its Bitcoin Investment Trust on the New York Stock Exchange. Since 2013, Grayscale Investment’s Bitcoin Investment Trust has been providing a unique method for investors and traders to purchase Bitcoin in a more regulated ecosystem by selling the shares of Bitcoin Investment Trust, hereinafter GBTC,....

First Ether ETF Filed With the SEC is Not Offering Insurance

As competition heats up amongst Bitcoin ETF providers SolidX and the Winklevoss Twins, another contender emerged to establish an exchange-traded fund based on a digital currency. Recently found company called EtherIndex LLC officially filed with the Securities and Exchange Commission on July 15 to offer the public and conventional investors opportunities to invest in Ether, the underlying currency of smart contract-based decentralized platform known as Ethereum. Similar to existing public digital asset trade and investment tools such as Grayscale Investments’ Bitcoin Investment....

Bitcoin Investment Trust Goes Public with Early Debut

Bitcoin Investment Trust (BIT) has been approved to go public on the securities marketplace OTC Markets Group, with shares available to be traded as early as next week. However, this may be available only to investors of Grayscale Investments, which will sponsor BIT. The fund will be listed under the symbol GBTC. Grayscale Investments is a private investment vehicle owned by Digital Currency Group (DGC), which would take on the responsibilities to launch and run the fund. Director of sales & business development Michael Sonnenshein says that they are trying to establish themselves as a....

Silbert's Digital Currency Group Announces Major Fundraise from MasterCard, CIBC, and Others

Barry Silbert, Founder of the recently acquired SecondMarket, announced at Money20/20 that the Digital Currency Group had raised its round of capital. Digital Currency Group, otherwise known as DCG, was formed when Genesis Global Trading-a bitcoin OTC trading firm-and Grayscale Investments-a digital currency asset management firm that manages Bitcoin Investment Trust (GBTC)-were combined into one entity. Along with these two companies, Mr. Silbert also combined his diverse portfolio of seed investment in the bitcoin and blockchain space. Some of his early investments include BitPay,....

MasterCard Invests In Silbert's Digital Currency Group

MasterCard is backing Barry Silbert's newest initiative, Digital Currency Group, his first since selling SecondMarket to Nasdaq last week. Many believe this marks a major development in the Bitcoin space as the digital currency flirts with the $300 level. Silbert has gained the support of big-time backers for the new conglomerate focused exclusively on Bitcoin and other block chain technologies. The new company, Digital Currency Group (DCG), will include Silbert's over-the-counter Bitcoin trading firm, Genesis Global Trading, as well as Grayscale Investments, a digital currency asset....