Grayscale Investment Trust, an institutional-grade crypto investment firm, launches publicly-traded Grayscale Bitcoin Cash (BCHG) and Grayscale Litecoin Trust (LTCN). The two will be available on the over-the-counter trading desk after receiving verification from FINRA and eligibility from Depository Trust Company (DTC) – the largest securities depository in the world.
In a statement on their Medium blog, Grayscale unveiled its fifth and sixth publicly traded assets – BCHG and LTCN – allowing investors to trade these shares on its OTC platform freely. This will enable investors to directly trade BCH and LTC without having to hold and store crypto assets.
Before, Grayscale only accepted private accredited institutional investors through private placements. Now, all investors (both retail and institutional) will be allowed to hold the Bitcoin Cash Trust and Litecoin Trust shares.
According to the Managing Director at Grayscale, Michael Sonnenshein, the new products will provide traders with “built-in security and storage, audited financials, as well as provide tax reporting.” Speaking to TheBlock, Michael said,
“They’re titled securities and eligible for investment through tax-advantaged accounts. So, it’s exciting to allow investors to access Bitcoin Cash and Litecoin directly from their brokerage account or invest from their retirement account.”
The Grayscale Trust offers a host of other publicly-traded shares, including Grayscale® Bitcoin Trust (GBTC), Grayscale Ethereum Trust (ETHE), Grayscale Ethereum Classic Trust (ETCG), and Grayscale Digital Large Cap Fund (GDLC).
Recently the company filed for approval from the U.S. Securities Exchange Commission (SEC) to halve their ETHE Trust locking period to the same period as the GBTC shares.