Grey-scale capital BCH and LTC Trust shares are approved by the US Financial Regulatory Authority and the otc market symbols are BCHG and LTCN

BlockBeats: Grayscale Investments has announced that its Bitcoin Cash Trust and Litecoin Trust equity products have been approved by finRA to make public offers in symbolic form. Otc market symbols are BCHG and LTCN. This marks the first publicly traded securities in the US linked to the price of Bitcoin Cash (BCH) and Litecoin (LTC).

These trusts are open-ended trusts sponsored by Grayscale that aim to provide exposure to the price movements of the underlying assets of the trust through traditional investment vehicles, avoiding the challenges of direct purchase, storage, and secure custody of digital BCH or LTC.

Since March 2018, the trust company has offered private placements to qualified investors. As of June 30, 2020, there were 2,725,300 outstanding Shares of the Grayscale BCH Trust, each representing 0.00943312 BCH of ownership. As of June 30, 2020, Grayscale LTC Trust had 509,400 streamed shares representing ownership of 0.09433120 LTC per share. According to Article 144 of the Securities Law, shares placed individually through trust companies can be sold on the open market after a one-year legal holding period.

The securities will not be open for trading until they qualify for the DTC. Greyscale Said BCHG and LTCN are expected to qualify for DTC soon.

Original Address:https://www.globenewswire.com/news-release/2020/07/20/2064551/

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