BCH and LTC Grayscale Investments trusts are set to start trading publicly on the over-the-counter markets after they received a DTC eligibility a day ago so in our latest Bitcoin cash news.
The BCH and LTC Grayscale trusts provide institutional and retail investors exposure to their namesake cryptocurrencies, bitcoin cash, and litecoin with $5.8 billion and $4.3 billion market cap. Grayscale fashioned its new growing family of crypto trusts as a gateway for all investors that lack the technical know-how or they don’t have the tolerance to hold coins themselves.
Before the announcement, Grayscale reported that accredited investors now have 6,028,000 BCHG shares and 2,500,800 LTCN shares in its private placement deals. The shares can now trade publicly as long as their institutional buyers’ one-year hold period is done. The managing director Michael Sonnenshein said:
“Shares in our 10 private placements are only available to institutional and accredited investors so it’s great to continue to work with regulators so more investors can access the asset class.”
As previously reported in our LTC news, Grayscale started offering Litecoin and Bitcoin Cash for all investors that lack the ability to deal with opening an account for an exchange and to acquire exposure to assets such as these two. Grayscale said they just got the approval from FINRA to list the shares of two of the funds on OTC Markets- The Grayscale Bitcoin Cash Trust and the Grayscale Litecoin Trust. This means that these two were previously accessible to accredited investors and now they can be purchased by retail investors with access to OTC markets.
Also, Grayscale Investments launched a national crypto AD Campaign with commercials airing on MSNBC, FOX, CNBC, and Fox Business in the United States. The crypto investing and asset management company’s CEO Barry Silbert announced the campaign last week while the managing director Michael Sonnenshein shared on Twitter. Grayscale gathered $217 million after its television AD campaign which was launched a week ago in a single biggest fundraising up to date. Grayscale’s success is proof that the race to get the new crypto investors on board is on as it was being pushed into new territory by Grayscale and its competitors. The CEO said that the ad campaign represents the company’s efforts to legitimize the crypto industry and to attract more users to the platform.
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