Grayscale Managing Director Michael Sonnenshein (CoinDesk archives)
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.
Disclosure
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
https://www.coindesk.com/grayscale-bitcoin-cash-litecoin-trust-trading
