Cryptocurrency Fund Manager Grayscale Investments will make Bitcoin Cash and Litecoin available for public trading through shares in the company’s cryptocurrency trusts.
In the July 20 announcement, Grayscale announced that the United States Financial Regulator (FINRA) had approved Bitcoin Cash Trust and Litecoin Trust shares for public trading. The two stocks will be available on the OTC markets with the symbols BCHG and LTCN.
Public trading in the two digital assets remains fully compatible with the Depository Trust Company (DTC), the world’s largest depositary.
“There will be no trading volume for the public listing of the shares until the respective shares are eligible for DTC, which BCHG and LTCN are expected to receive soon.”shows the display.
Grayscale announced that as of June 30, 2,725,300 Bitcoin Cash Trust shares were held for $ 5.8 million in assets under management and 509,400 Litecoin Trust shares were held for a total of $ 2 million.
Offer trusts at Grayscale a means to invest in cryptocurrencies without having to keep tokens. According to the investment firm, this strategy avoids “the challenges of buying, storing and protecting Bitcoin Cash or digital Litecoin directly”.
The Bitcoin Cash and Litecoin stocks are the fifth and sixth public offering from Grayscale. Cointelegraph reported that the company had received approval to list Bitcoin (BTC), Ethereum (ETH) and Ethereum Classic (ETC) stocks. Horizen (ZEN), Stellar Lumens (XLM), XRP and Zcash (ZEC) can also be traded through trust in the investment firm.
At press time, Bitcoin Cash (BCH) and Litecoin (LTC) are worth $ 223.92 and $ 42.13, respectively. According to CoinMarketCap, BCH is ranked the fifth largest token by market cap, while LTC is ninth.