Abstract
Gloiocephala aquatica sp. nov. is described from material collected near Esquel, Chubut, Argentina. It forms tiny acystidiate basidiomata that arise from circular pseudosclerotial plates and develop a lateral stipe, smooth hymenophore, and gelatinized tissues. The species grows on submerged culms of California bulrush in the littoral zone of eutrophic lakes and ponds, and develops its basidiomata and sporulates underwater, often beneath a thin layer of ice. The psychrophilic aquatic habit of G. aquatica is unique in the Agaricales.