Grayscale Investments LLC has announced its Bitcoin Cash Trust and Litecoin Trust are now available to trade on over-the-counter (OTC) markets under the BCHG and LTCN symbols.
According to an official press release, the trusts are intended to enable exposure to the price movement of the underlying assets via an investment vehicle, without the challenges of buying, storing, and safekeeping BCH or LTC directly.
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As of July 31, 2020, there were 6,028,000 shares outstanding of BCHG where each share represented ownership of 0.00941311 BCH, while LTCN had 2,500,800 shares with share representing ownership of 0.09413112 LTC.
Grayscale first reported about its intention to make BCH and LTC trusts available to public in mid-July 2020.
Back then, one of the world’s largest digital currency asset managers said it had received a permission from FINRA to offer Bitcoin Cash and Litecoin trusts publicly.
In May, Grayscale doubled its investment in bitcoin, resulting in buying more BTCs than the miners have mined.
According to researcher Kevin Rooke, the company bought over 18,000 bitcoins since the May 11 halving. During this period, miners have mined at least over 12,000 BTCs.
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