Grayscale Investments, a cryptocurrency asset manager, has announced it has registered three crypto products — Bitcoin Cash Trust, Ethereum Classic Trust, and Litecoin Trust — with the US Securities and Exchange Commission.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
According to a press release, the trusts extend the list of the firm's existing lineup of investment products with the same designation: Bitcoin Trust, Ethereum Trust and Digital Large Cap Fund. Craig Salm, Vice President of Legal at Grayscale Investments, commenting on the registration said:
"As we await regulatory approval for a Bitcoin ETF, we remain focused on providing investors with opportunities to access the digital currency ecosystem through Grayscale's secure, trusted family of products."
Grayscale claims the registration aligns with its intent to eventually convert each product into a digital currency ETF. Having registered the trusts, its private placements will now have an earlier liquidity opportunity, as the statutory holding period of private placement shares will be reduced from 12 months to 6 months, the firm said.
As iHodl earlier reported, Morgan Stanley increased its investments in the Grayscale Bitcoin Trust (GBTC) through several funds available to its clients. According to documents filed with the SEC, the largest investments was made by the Morgan Stanley Insight Fund, which acquired 928,051 GBTC shares valued at $27,665,000, equivalent to 0.34% of its assets under management (AUM).
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.