Digital Currency Group

Digital Currency Group (DCG) is a venture capital company focusing on the digital currency market. It is located in New York City.[1]

History

Digital Currency Group was launched in 2015 by Barry Silbert, who previously was CEO of SecondMarket, Inc.. He began investing in blockchain technology companies in 2013.[2] Shortly after SecondMarket’s sale, Silbert formed Digital Currency Group, with Genesis and Grayscale becoming the first of the company’s subsidiaries.[3]

Subsidiaries

Grayscale Investments

Established in 2013, Grayscale Investments is a digital currency asset manager. It offers funds privately for institutional investors[4] and publicly-traded products.[5] Reuters called them the world’s largest asset manager for digital currency in November 2019[6] and in January 2021 Grayscale reported that they were managing $20.2 billion in assets.[7] Grayscale also manages the Grayscale Bitcoin Investment Trust (GBTC), which was the first publicly quoted securities solely invested in the price of bitcoin upon its launch in 2013.[2] Four of Grayscale’s funds trade publicly on the OTCQX and the Trust trades under symbol GBTC.[8][9] They were approved for public trading by the Financial Industry Regulatory Authority in 2019.[10]

In 2018, Grayscale launched the Grayscale Digital Large Cap Fund which allows a customer to invest in a group of prominent digital currencies.[11] The fund was approved to trade on public markets by the Financial Industry Regulatory Authority in October 2019. [12]

CoinDesk
Main article: CoinDesk

CoinDesk is a global media, research, and events platform that was acquired by Digital Currency Group in 2016.[13] It reports on blockchain’s daily news, provides a Bitcoin Price Index and publishes a quarterly State of Bitcoin report. CoinDesk also hosts a conference on digital currencies and blockchain technologies titled Consensus.[14]

References
  1. Vigna, Paul (2016-04-28). "Bitcoin-Focused Investment Firm Brings On Western Union, Lawrence Summers". Wall Street Journal. ISSN 0099-9660. Archived from the original on 2016-05-05. Retrieved 2016-05-10.
  2. Primack, Dan (23 September 2013). "First Bitcoin Investment Fund Launches". Fortune Ledger. Archived from the original on 30 April 2019. Retrieved 29 March 2019.
  3. Tepper, Fitz (27 October 2015). "Barry Silbert Launches Digital Currency Group With Funding From MasterCard, Others". TechCrunch. Archived from the original on 30 April 2019. Retrieved 18 April 2019.
  4. Rooney, Kate (1 November 2018). "Crypto investment firm Grayscale rakes in $330 million this year despite bitcoin bear market". CNBC. Retrieved 30 June 2020.
  5. Salzman, Avi (15 October 2019). "New Cryptocurrency Fund Finds a Side Door Into Your Brokerage Account". Barron's. Retrieved 25 June 2020.
  6. Chavez-Dreyfuss, Gertrude (19 November 2019). "Digital currency asset manager files SEC document for bitcoin fund". Reuters. Retrieved 23 June 2020.
  7. Rooney, Kate (2021-01-14). "Crypto investment firm Grayscale sees 900% jump in assets to $20 billion amid bitcoin frenzy". CNBC. Retrieved 2021-02-02.
  8. Rosenfeld, Everett (2015-04-01). "For bitcoin, 'golden moment' or fool's gold?". CNBC. Archived from the original on 2016-05-12. Retrieved 2016-05-10.
  9. Casey, Michael J. (2015-03-01). "BIT Poised to Become Publicly Traded Bitcoin Fund". Wall Street Journal. ISSN 0099-9660. Archived from the original on 2016-05-24. Retrieved 2016-05-10.
  10. Schlegel, Jeff (15 October 2019). "Finra OKs OTC Listing Of Digital Currencies Fund". Financial Advisor. Retrieved 30 June 2020.
  11. Roberts, Daniel (7 February 2018). "Exclusive: Grayscale launches new 'Digital Large Cap Fund' tied to 5 top cryptocurrencies". Yahoo Finance. Retrieved 25 June 2020.
  12. Keeley, Aislinn (14 October 2019). "Grayscale gets FINRA approval for Digital Large Cap Fund". Yahoo Finance. Retrieved 30 June 2020.
  13. Matney, Lucas (13 January 2016). "CoinDesk Gets Acquired By Digital Currency Group". TechCrunch. Archived from the original on 18 May 2016. Retrieved 10 May 2016.
  14. Roberts, Daniel (4 May 2016). "The 5 biggest bitcoin and blockchain announcements at Consensus". Yahoo Finance. Archived from the original on 9 May 2016. Retrieved 10 May 2016.
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