Grayscale receives approval from FINRA for BCH and LTC to be publicly traded

 

The crypt-currency fund manager Grayscale Investments will make Bitcoin Cash and Litecoin available for public trading through shares in the company’s crypt-currency trusts.

In the July 20 announcement, Grayscale said the U.S. Financial Industry Regulatory Authority (FINRA) had approved the company’s Bitcoin Cash Trust and Litecoin Trust shares for public trading. The two shares will be available in the OTC markets under the symbols BCHG and LTCN.

Grayscale’s Ethereum-based security now trades on the OTC markets

Public trading of the two digital assets remains subject to full compatibility with the Depository Trust Company (DTC), the world’s largest securities depository.

„There will be no trading volume in the public quotations of the shares until the respective shares are eligible for DTC, which BCHG and LTCN are expected to receive soon,“ the announcement said.

Grayscale CEO: US regulators can no longer ban Bitcoin
Grayscale reported that as of June 30 it holds 2,725,300 shares in its Bitcoin Cash Trust for USD 5.8 million of assets under management and 509,400 shares in Litecoin Trust for a total of USD 2 million.

Exchange Traded Tokens

Trusts at Grayscale provide a means to invest in cryptosystems without having to keep the tokens. According to the investment firm, this strategy avoids „the challenges of directly buying, storing and protecting Bitcoin Cash or digital Litecoin.

Grayscale has not purchased a single Bitcoin in over 3 weeks
Bitcoin Cash and Litecoin shares are the fifth and sixth public offerings of Grayscale. Cointelegraph reported that the company received approval to list shares of Bitcoin (BTC), Ethereum (ETH) and Ethereum Classic (ETC). Horizen (ZEN), Stellar Lumens (XLM), XRP and Zcash (ZEC) are also available for trading through a trust in the investment company.

At the close of this edition, Bitcoin Cash (BCH) and Litecoin (LTC) are valued at USD 223.92 and USD 42.13, respectively. According to CoinMarketCap, BCH is ranked the fifth largest token by market capitalization, while LTC is ranked the ninth.