The digital currency group, the parent company of Grayscale Investments, which manages the digital assets, is now entitled to buy up to $ 750 million in Grayscale Bitcoin Trust shares.

The company announced Monday that DCG has increased its authorization to buy GBTC shares to $ 250 million for an additional $ 500 million.

The share purchase license does not oblige DCG to acquire any specified number of shares at any time, and may be extended, changed or terminated at any time, in accordance with DCG’s notes. The company said that the actual purchases will depend on many factors, such as levels of liquidity, as well as prices and market conditions.

DCG reported that as of Friday, the company purchased GBTC shares for a total of $ 193.5 million. The company indicated that DCG plans to use cash to finance acquisitions and will make acquisitions at the management’s discretion in accordance with section 10b-18 of the Stock Exchange Act.

The news comes shortly after DCG originally announced in March its plan to acquire up to $ 250 million in GBTC shares. The move came amid an unstable environment for GBTC and plans to recruit talent in the ETF industry, indicating potential diversification for the company.

GBTC was founded in 2013 as the Bitcoin Investment Trust and is the largest Bitcoin Investment Trust in the world (BTC) which gives investors access to bitcoins through a private, listed fund. As of Friday, GBTC has managed more than $ 36 billion in assets, and Grayscale’s total assets are $ 46.7 billion. In mid-April, when Bitcoin reached a full-time high of more than $ 64,000, total grayscale assets exceeded $ 50 billion.

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