Cryptocurrency fund manager Grayscale Investments will make Bitcoin Cash [BCH] and Litecoin [LTC] available for public trading via shares of the firm’s crypto trusts.
In line with a recent official announcement published on 20th July, Grayscale added the [FINRA] Financial Industry Regulatory Agency within the U.S. had approved shares of the firm’s Bitcoin Cash Trust and Litecoin Trust for public trading. The 2 stocks will be available on OTC markets under the symbols BCHG & LTCN.
Public trading for the two digital assets remains subject to full compatibility with the [DTC] Depository Trust Company, the world’s leading securities depository.
While adding further, the announcement added:
“There will be no trading volume within the shares’ public quotations until the respective shares are DTC eligible, which BCHG and LTCN are expected to receive soon.”
Grayscale revealed that as of 30th June, it’s 2,725,300 shares in its Bitcoin Cash Trust for $5.8 Mln assets beneath management and 509,400 shares of the Litecoin Trust totalling $2 Mln.
Safekeeping Digital Bitcoin Cash [BCH] Or Litecoin [LTC] Directly
Grayscale’s trusts offer a way of investing within cryptocurrency without having to truly hold the tokens. Consistent with the investment company, this strategy avoids “the challenges of shopping for, storing, and safekeeping digital Bitcoin Cash or Litecoin directly.”
Shares of Bitcoin Cash [BCH] and Litecoin [LTC] are the 5th and 6th public offerings from Grayscale. It reported the firm received approval to list shares of Bitcoin [BTC], Ethereum [ETH], and Ethereum Classic [ETC]. Horizen [ZEN], Stellar Lumens [XLM], Ripple [XRP], and Zcash [ZEC] are also available for trading via a trust at the investment company.
At the time of reporting, Bitcoin Cash [BCH] and Litecoin [LTC] are valued at $223.92 USD & $42.13 USD, respectively. Consistent with CoinMarketCap, BCH is rated as the 5th largest token by market cap, while LTC is listed at the 9th position.