At a time when cryptocurrencies have made a remarkable comeback, it is only natural for investors to look into companies involved in the sector, and at this point, it could be a good time to look into Grayscale Bitcoin Cash Trust (OTCQB: DEFG). On Wednesday, the company was in focus after it made a significant new announcement, and in this feature, we take a look.
The Announcement
On January 8 the company made an announcement with regards to the updated fund component weightings for each product in relation to the respective reviews for the fourth fiscal quarter. In the news release, the company noted that in line with the AI Fund method, it adjusted the portfolio of the AI Fund through the sales of the existing components of the fund in proportion to the respective weightings.
Further Details
Through the cash proceeds that had been generated, the company purchased LPT (Livepeer) and some of the existing components in the fund. Due to the rebalancing that had been affected, the AI Fund got an infusion of LPT as a consequence. The updates provided by the company were in great detail, and it remains to be seen if it leads to any traction for the stock or not.
