New York, Aug. 17, 2020 (GLOBE NEWSWIRE) — Grayscale Investments®, the world’s largest digital foreign money asset supervisor, as we speak introduced that Grayscale® bitcoin cash Belief and Grayscale® Litecoin Belief have acquired DTC-eligibility. Eligible Shares of Grayscale bitcoin cash Belief will likely be accessible to commerce on OTC Markets underneath the image: BCHG and eligible Shares of Grayscale Litecoin Belief will likely be accessible to commerce on OTC Markets underneath the image: LTCN. This announcement follows FINRA’s verification that the required diligence to start quoting BCHG and LTCN pursuant to Rule 15c2-11 underneath the Securities Alternate Act of 1934, as amended, has been accomplished.
The Trusts are open-ended trusts sponsored by Grayscale and are supposed to allow publicity to the price motion of every Belief’s underlying property by means of an funding car, avoiding the challenges of shopping for, storing, and safekeeping digital bitcoin cash or Litecoin straight.
SECONDARY MARKETS for the PRIVATE PLACEMENTS
The Trusts have provided non-public placements to accredited traders since March 2018. As of July 31, 2020, there have been 6,028,00Zero Shares excellent of BCHG and every Share represented possession of 0.00941311 bitcoin cash. As of July 31, 2020, there have been 2,500,800 Shares excellent of LTCN and every Share represented possession of 0.09413112 Litecoin. Shares created by means of every Belief’s respective non-public placement grow to be eligible to promote into the general public market after a statutory one-year holding interval underneath Rule 144 of the Securities Act.*
All traders with entry to U.S. securities will be capable of purchase and promote freely-tradable shares of BCHG and LTCN by means of their funding accounts in the identical method as they’d different unregistered securities.
INVESTMENT OBJECTIVE
The funding goal of every Belief is for the Shares (primarily based on property per Share) to mirror the value of the property held by such Belief, decided by reference to the suitable TradeBlock index at 4:00 p.m. New York time, much less such Belief’s bills and different liabilities. TradeBlock’s BCX Index is the reference for Grayscale bitcoin cash Belief and TradeBlock’s LTX Index is the reference for Grayscale Litecoin Belief. The Trusts won’t generate any revenue and recurrently distribute bitcoin cash and Litecoin respectively, to pay for its ongoing bills. Subsequently, the quantity of bitcoin cash and Litecoin represented by every respective Share steadily decreases over time.
The Trusts should not registered with the Securities and Alternate Fee and should not topic to disclosure and sure different necessities mandated by U.S. securities legal guidelines.
GRAYSCALE PRODUCT FAMILY
Grayscale’s funding merchandise can be found to institutional and particular person accredited traders by means of their respective periodic and ongoing non-public placements. Along with its bitcoin cash (BCH) and Litecoin (LTC) providing, Grayscale’s single-asset funding merchandise present publicity to Bitcoin (BTC), Ethereum (ETH), Ethereum Traditional (ETC), Horizen (ZEN), Stellar Lumens (XLM), XRP, and Zcash (ZEC). Moreover, Grayscale’s diversified funding product, Grayscale® Digital Giant Cap Fund gives protection of the higher 70% of the digital foreign money market by market capitalization. As of July 31, 2020, Grayscale managed roughly $5.2 billion in property.
BCHG and LTCN signify Grayscale’s fifth and sixth publicly-quoted funding merchandise. Grayscale® Bitcoin Belief (OTCQX: GBTC), Grayscale® Ethereum Belief (OTCQX: ETHE), Grayscale® Ethereum Traditional Belief (OTCQX: ETCG), and Grayscale® Digital Giant Cap Fund (OTCQX: GDLC) are additionally publicly-quoted and accessible to all traders with entry to U.S. securities. Buyers will be capable of discover present monetary disclosure and Actual-Time Stage 2 quotes for Shares on www.otcmarkets.com/stock/BCHG/overview as soon as buying and selling for BCHG commences and www.otcmarkets.com/stock/LTCN/overview as soon as buying and selling for LTCN commences.
*Every Belief gives a non-public placement to accredited traders. The funding goal of every Belief is for its Shares to mirror the value of property held by such Belief, much less such Belief’s bills and different liabilities. As a result of every Belief doesn’t at the moment function a redemption program, there could be no assurance that the value of the Shares will approximate the value of the property held by such Belief, much less such Belief’s bills and different liabilities, and the Shares may commerce at a considerable premium over, or a considerable low cost to, such value and such Belief may be unable to satisfy its funding goal.
This press launch will not be a proposal to promote or the solicitation of a proposal to purchase any safety in any jurisdiction the place such a proposal or solicitation can be unlawful, nor shall there be any sale of any safety in any jurisdiction by which such supply, solicitation or sale can be illegal previous to registration or qualification underneath the securities legal guidelines of that jurisdiction.
About Grayscale Investments®
Grayscale Investments is the world’s largest digital foreign money asset supervisor, with greater than $5.2B in property underneath administration as of July 31, 2020. By its household of 10 funding merchandise, Grayscale supplies entry and publicity to the digital foreign money asset class within the type of a standard safety with out the challenges of shopping for, storing, and safekeeping digital currencies straight. With a confirmed observe document and unequalled expertise, Grayscale’s merchandise function inside current regulatory frameworks, creating safe and compliant publicity for traders. For extra info, please go to www.grayscale.co and observe @Grayscale.
Marissa Arnold marissa@grayscale.co