Recently, Grayscale Investments have announced their approval from Financial Industry Regulatory Authority, Inc (FINRA) for public quotations of the eligible shares of Grayscale Bitcoin Cash Trust and Grayscale Litecoin Trust. The approval means that the trust mentioned above will now be available in Over-the-counter markets under the symbols BCHG and LTCN, respectively.
Grayscale Investment is the daughter company of Digital Currency Group that manages investment funds of cryptocurrencies. In 2018 the company started providing investment funds for cryptocurrencies apart from Bitcoin like Ethereum, ZCash, Litecoin, Bitcoin Cash, and so on.
The Grayscale Bitcoin Cash trust, as well as the Grayscale Litecoin Trust, enable the investors to gain widespread exposure to the movements of BTCH as well as LTC price respectively by using a conventional investment vehicle. However, back in 2018, the Grayscale Bitcoin Cash Trust, as well as the Grayscale Litecoin Trust, was not registered with the US Securities and Exchange Committee. However, this will be the first of its kind where BTCH’s and LTC’s derived value will be publicly-quoted securities in the US.
Four Investment Products Approved For Public Quotation
As of 2020, a total of 2,725,300 shares of the Grayscale Bitcoin Cash Trust which were outstanding. Each share held by investors specified an amount of 0.00943312 Bitcoin Cash. On the other hand, the total number of outstanding Grayscale Litecoin Trust stood at 509,400, and the ownership of each share was fixed at 0.09433120 Litecoin.
The approval of the Bitcoin Cash and Litecoin is the 5th and 6th time that Grayscale’s investment products are getting publicly quoted. Previously, Grayscale Bitcoin Trust (GBTC), Grayscale Ethereum Trust (ETHE), Grayscale Ethereum Classic Trust (ETCG), and Grayscale Digital Large Cap Fund (GDLC) were approved by the FINRA as publicly quoted investment products.
Investors Allowed To Trade Grayscale BCHG And LTCN
Grayscale further announced that investors will now be able to trade BCHG [bitcoin cash] and LTCN [litecoin] shares from their existing investment account. The investors were allowed to trade them in a similar way they did with the unregistered securities. As of now, Grayscale offers ten investment products, namely, Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust, Ethereum Classic Trust, Litecoin Trust, Horizen Trust, XRP Trust, Zcash Trust, Stellar Lumens Trust, and Grayscale Digital Large Cap Fund. The total assets under management estimated to be around $4.1 billion.
