Grayscale Investments LLC, a wholly-owned subsidiary of Digital Currency Group, Inc. has appointed Xapo, Inc. as Custodian for the Bitcoin Investment Trust assets.
The partnership between Grayscale and Xapo aims to guarantee the asset safety, says the press release published on PR Newswire. Barry Silbert, CEO of Digital Currency Group and founder of the Bitcoin Investment Trust, declared:
Wences Casares, CEO of Xapo, also seemed happy about the deal:
As CoinFox wrote before, in March 2015, Bitcoin Investment Trust (BIT) got the approval of the U.S. Financial Industry Regulatory Authority to create a first publicly traded bitcoin fund on the American market. In June, the trade has started on the OTC Markets, with one share representing ownership of approximately 0.1 bitcoin. It was an event long awaited by the whole bitcoin community. Immediately after the start of the trade, the share price went up to $175. Currently, according to OTC Markets, the price is $29.91, just a little bit above the current price for 0.1 BTC.
Xapo is a bitcoin wallet provider and a bitcoin storage company renowned for its security. As CoinFox wrote in January, Xapo is going to store its keys in deep underground bunkers in mountainous regions as well as in space. It also offers its clients a full insurance for all the bitcoins they have in their accounts.
Alexey Tereshchenko