The digital asset management firm Grayscale Investments announced on Aug 17 that its Bitcoin Cash and Litecoin Trusts are now publicly tradable. Shares of the two trusts will be traded on OTC markets under the tickers BCHG and LTCN.
Bitcoin Cash and Litecoin have joined the Grayscale Bitcoin Trust (GBTC), Ethereum Trust (ETHE), Ethereum Classic Trust (ETCG), and Digital Large Cap Fund (GDLC) as being publicly tradeable.
US securities investors will be able to trade Bitcoin Cash and Litecoin without having to buy and store the assets themselves. Prior to this, these trusts were only available to professional investors. Accredited investors had already purchased 6,028,000 BCHG shares and 2,500,800 LTCN shares.
Grayscale currently offers several different investment products in cryptocurrencies, including Bitcoin, Ethereum, XRP, Stellar Lumens, and Zcash, among others. Bitcoin and Ethereum are the two most popular choices, both of which have seen a large influx of interest and capital inflow this year. Grayscale’s Bitcoin trust has grown by $1.6 billion in the first half of 2020.
Grayscale makes it easy for investors to enter the market, removing the technical knowledge and understanding required in storing cryptocurrencies. This has drawn in more investors — some of which were even willing to pay for ETH at a 700% premium.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Rahul Nambiampurath
Rahul Nambiampurath's cryptocurrency journey first began in 2014 when he stumbled upon Satoshi's Bitcoin whitepaper. With a bachelor's degree in Commerce and an MBA in Finance from Sikkim Manipal University, he was among the few that first recognized the sheer untapped potential of decentralized technologies. Since then, he has helped DeFi platforms like Balancer and Sidus Heroes — a web3 metaverse — as well as CEXs like Bitso (Mexico's biggest) and Overbit to reach new heights with his...
Rahul Nambiampurath's cryptocurrency journey first began in 2014 when he stumbled upon Satoshi's Bitcoin whitepaper. With a bachelor's degree in Commerce and an MBA in Finance from Sikkim Manipal University, he was among the few that first recognized the sheer untapped potential of decentralized technologies. Since then, he has helped DeFi platforms like Balancer and Sidus Heroes — a web3 metaverse — as well as CEXs like Bitso (Mexico's biggest) and Overbit to reach new heights with his...
READ FULL BIO
Sponsored
Sponsored