The digital asset management firm Grayscale Investments announced on Aug 17 that its Bitcoin Cash and Litecoin Trusts are now publicly tradable. Shares of the two trusts will be traded on OTC markets under the tickers BCHG and LTCN.
US securities investors will be able to trade Bitcoin Cash and Litecoin without having to buy and store the assets themselves. Prior to this, these trusts were only available to professional investors. Accredited investors had already purchased 6,028,000 BCHG shares and 2,500,800 LTCN shares.
Grayscale currently offers several different investment products in cryptocurrencies, including Bitcoin, Ethereum, XRP, Stellar Lumens, and Zcash, among others. Bitcoin and Ethereum are the two most popular choices, both of which have seen a large influx of interest and capital inflow this year. Grayscale’s Bitcoin trust has grown by $1.6 billion in the first half of 2020.
Grayscale makes it easy for investors to enter the market, removing the technical knowledge and understanding required in storing cryptocurrencies. This has drawn in more investors — some of which were even willing to pay for ETH at a 700% premium.
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