Grayscale Investments’ Litecoin Trust (LTCN) and Bitcoin Cash Trust (BCHG) have received DTC eligibility on Monday, which means the shares can begin trading publicly. The firm’s latest funds give investors exposure to the crypto assets bitcoin cash and litecoin and shares will be traded via secondary markets.
Both LTC and BCH supporters were pleased to hear that Grayscale’s new crypto trusts met DTC eligibility on Monday, August 17. This means eligible investors can gain access to these two trusts and invest in them like other types of securities.
Essentially, DTC eligibility means that the securities, in this case, LTCN and BCHG are able to be pledged through the DTC. It is by far the largest securities depository in the world managing $35 trillion worth of securities on deposit.
Investors can now gain exposure to these crypto assets by investing in eligible shares. The Bitcoin Cash Trust will be available to trade on over-the-counter (OTC) markets according to the announcement, and shares will leverage the ticker symbol: BCHG.
Eligible Shares of Grayscale Investments’ Litecoin Trust will be available to trade on OTC markets under the symbol: LTCN.
“The Trusts are open-ended trusts sponsored by Grayscale and are intended to enable exposure to the price movement of each Trust’s underlying …From -
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Author: Jamie Redman