Bitcoin Cash and Litecoin Trusts from Grayscale Investments Begin Trading 1

Grayscale Investments’ Litecoin Trust (LTCN) and Bitcoin Cash Trust (BCHG) have received DTC eligibility on Monday, which means the shares can begin trading publicly. The firm’s latest funds give investors exposure to the crypto assets bitcoin cash and litecoin and shares will be traded via secondary markets.

Both LTC and BCH supporters were pleased to hear that Grayscale’s new crypto trusts met DTC eligibility on Monday, August 17. This means eligible investors can gain access to these two trusts and invest in them like other types of securities.

Essentially, DTC eligibility means that the securities, in this case, LTCN and BCHG are able to be pledged through the DTC. It is by far the largest securities depository in the world managing $35 trillion worth of securities on deposit.

Investors can now gain exposure to these crypto assets by investing in eligible shares. The Bitcoin Cash Trust will be available to trade on over-the-counter (OTC) markets according to the announcement, and shares will leverage the ticker symbol: BCHG.

Eligible Shares of Grayscale Investments’ Litecoin Trust will be available to trade on OTC markets under the symbol: LTCN.

“The Trusts are open-ended trusts sponsored by Grayscale and are intended to enable exposure to the price movement of each Trust’s underlying assets through an investment vehicle, avoiding the challenges of buying, storing, and safekeeping digital Bitcoin Cash or Litecoin directly,” explains Grayscale.

Grayscale’s announcement noted that the trusts saw private placements in March 2018, and shares drafted through each trust’s respective placement are available to sell into the public market. However, Rule 144 of the Securities Act requires a “statutory one-year holding period.”

Bitcoin Cash and Litecoin Trusts from Grayscale Investments Begin Trading 2Bitcoin Cash and Litecoin Trusts from Grayscale Investments Begin Trading 3

As of July 31, 2020, there were 6,028,000 shares outstanding of BCHG and each share represented ownership of 0.00941311 bitcoin cash,” Grayscale’s announcement on Monday states. “There were 2,500,800 shares outstanding of LTCN and each share represented ownership of 0.09413112 litecoin,” the press release adds.

Grayscale Investments’ announcement on Monday further concludes:

All investors with access to U.S. securities will be able to buy and sell freely-tradable shares of BCHG and LTCN through their investment accounts in the same manner as they would other unregistered securities.

What do you think about Grayscale’s new litecoin and bitcoin cash investment products? Let us know in the comments section below.

Tags in this story
BCHG, bitcoin cash, Bitcoin Cash Trust, crypto assets, DTC, DTC eligibility, Grayscale Investments, litecoin, Litecoin Trust, LTCN, OTC, Over-the-counter, Secondary Markets, Securities Act, Trusts, unregistered securities

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews



Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Millions in Cryptocurrency Stolen by Scammers in the Last Month According to Tenable Research
November 24, 2021
Behind The Scenes: How this Crypto Community Responded to + $50m Hack
October 18, 2021
Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021

Blockchain/Cryptocurrency Questions and Answers

Crypto casinos
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
Cryptocurrency
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
Ethereum
The Unconventional Guide to Ethereum
October 28, 2021
ICo Presale
The Science Behind ICO Presales…
October 14, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin59,091 1.34 % 3.80 % 4.80 %
Ethereum4,717.3 0.99 % 9.17 % 15.03 %
Binance Coin633.44 1.14 % 2.80 % 13.12 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Solana217.43 1.27 % 6.13 % 0.48 %
Cardano1.620 1.32 % 3.72 % 8.73 %
XRP1.030 0.79 % 5.66 % 0.98 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
USD Coin1.000 0.14 % 0.20 % 0.17 %
Dogecoin0.2215 0.68 % 1.42 % 7.23 %

bitcoin
Bitcoin (BTC) $ 58,150.00
ethereum
Ethereum (ETH) $ 4,669.69
binance-coin
Binance Coin (BNB) $ 625.94
tether
Tether (USDT) $ 0.999159
solana
Solana (SOL) $ 214.13
cardano
Cardano (ADA) $ 1.60
xrp
XRP (XRP) $ 1.02
polkadot
Polkadot (DOT) $ 38.17
usd-coin
USD Coin (USDC) $ 0.999658
dogecoin
Dogecoin (DOGE) $ 0.221303