Grayscale announces Bitcoin Cash and Litecoin trusts will now be traded publicly
August 17, 2020, 6:43PM EDT
1 min read
Digital currency asset manager Grayscale Investments announced Monday that its Bitcoin Cash Trust and Litecoin Trust are now DTC-eligible.
This means any investor with access to U.S. securities can access Bitcoin Cash and Litecoin without having to buy and store them directly.
According to the announcement, shares of both trusts will be available for trading on over-the-counter (OTC) markets under the symbols BCGG (Bitcoin Cash) and LTCN (Litecoin).
Up until this point, these trusts did not trade publicly. The shares were only available to institutional and accredited investors through private placement offerings, Grayscale Managing Director Michael Sonnenshein told The Block.
"Grayscale’s products have built-in security and storage, audited financials, and provide tax reporting. They’re titled securities and eligible for investment through tax-advantaged accounts. So, it’s exciting to give investors the opportunity to access Bitcoin Cash and Litecoin directly from their brokerage account or invest from their retirement account," Sonnenshein said.
The trusts are sponsored by Grayscale and have offered private placements to investors since March 2018.