Grayscale’s Bitcoin Cash and Litecoin Trusts Begin Trading Publicly
Grayscale Investments’ Bitcoin Cash Trust (BCHG) and Litecoin Trust (LTCN) crypto products are set to begin trading publicly on over-the-counter markets after receiving DTC eligibility Monday.
- The twin funds provide institutional (and now retail) investors exposure to their namesake cryptocurrencies: bitcoin cash ($5.8 billion market cap) and litecoin ($4.3 billion market cap).
- Grayscale has fashioned its growing family of crypto trusts as a gateway for investors who lack the technical know-how or risk tolerance to hold coins themselves. (Grayscale is a subsidiary of Digital Currency Group, CoinDesk’s parent firm.)
- Prior to the announcement, Grayscale reported accredited investors already held 6,028,000 BCHG shares and 2,500,800 LTCN shares through private placement deals.
- Those shares can now trade publicly as long as their institutional buyers’ one-year hold period has been met.
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