Grayscale Investments, a cryptocurrency fund manager, will have Bitcoin Cash and Litecoin publicly traded through stocks in the company’s cryptocurrency fund.
In the July 20 announcement, Grayscale announced that the US Financial Industry Regulatory Authority (FINRA) has verified the Bitcoin Cash Trust shares and that the Litecoin Trust is ready to begin listing on the OTC markets. Both stocks will soon be publicly traded under the symbols BCHG and LTCN.
Public trading of digital assets continues to count on full compliance with the Depository Trust Company (DTC), the world’s largest stock magazine.
The statement said, “Trading volume in the IPO will not take place until after the respective shares become eligible for the DTC, and it is expected that BCHG and LTCN will receive them soon.”
Grayscale revealed that as of June 30, it had 2,725,300 shares in the Bitcoin Cash Trust worth $ 5.8 million under management and 509,400 shares in the Litecoin Trust for a total of $ 2 million.
The Grayscale Trust gives you the ability to invest in cryptocurrencies without the need to hold tokens. According to the investment firm, this strategy avoids “the hassle of buying, storing and storing Bitcoin Cash or digital Litecoin directly.”
Bitcoin Cash and Litecoin are Grayscale’s fifth and sixth public offering. Cointelegraph said the company has received permission to list shares in Bitcoin (BTC), Ethereum (ETH) and Ethereum Classic (ETC). Horizen (ZEN), Stellar Lumens (XLM), XRP and Zcash (ZEC) are also available to trade by trust with an investment firm.
At the time of writing, Bitcoin Cash (BCH) and Litecoin (LTC) are priced at $ 223.92 and $ 42.13, respectively. According to CoinMarketCap, BCH ranks 5th among tokens by market cap, while LTC ranks 9th.