Gloiocephala aquatica sp. nov. is described from material collected ne
ar Esquel, Chubut, Argentina. It forms tiny acystidiate basidiomata th
at arise from circular pseudosclerotial plates and develop a lateral s
tipe, smooth hymenophore, and gelatinized tissues. The species grows o
n submerged culms of California bulrush in the littoral zone of eutrop
hic lakes and ponds, and develops its basidiomata and sporulates under
water, often beneath a thin layer of ice. The psychrophilic aquatic ha
bit of G. aquatica is unique in the Agaricales.