Bitcoin Cash and Litecoin officially went public on stocks market!

In a press release issued this July 20, Grayscale Investments announced that two of these funds received the approval of the Financial Industry Regulatory Authority (FINRA) to be traded . The FINRA is a private, approved by the US government, to self-regulate the US stock markets.

It is the Grayscale Bitcoin Cash Trust and Grayscale Litecoin Trust funds , dedicated to BCH and LTC cryptos, which will thus benefit from a public listing . They will receive the symbols BCHG and LTCN respectively .

Publication on the entry of BCHG and LTCN on the stock exchange - Source: Twitter

BCHG and LTCN thus become Grayscale's fifth and sixth listed investment products. Indeed, Bitcoin (GBTC), Ethereum (ETHE), Ethereum Classic (ETCG) funds are already publicly listed. Just like the Grayscale Digital Large Cap Fund (GDLC) , composed of a basket of five crypto-assets .

These new shares for Litecoin and Bitcoin Cash will be available to the general public within two to four weeks .

An offer that appeals to professional and institutional investors

Grayscale crypto funds come in the form of a trust , in which investors buy units  in the form of shares . On the other hand, these trusts actually hold  the underlying assets: cryptocurrencies . They are not simple price trackers like some ETFs.

It is a formula that is very popular with institutional investors . They thus expose themselves to real cryptos without having to manage their purchase and  quite specific storage .

The success is such that the institutions are ready to pay a premium , in addition to the ether price to acquire ETHE shares. In April, this premium was thus + 500% compared to the price of ETH.

“Grayscale builds investment products that work within existing regulatory frameworks. With the approval of two additional products for public trading, we are expanding investor access to the new digital currency asset class. » , Michael Sonnenshein, CEO of Grayscale

The arrival of institutional investors has been a topic that has haunted the cryptosphere since 2017 or 2018 at least. Even though their entry was far too early at the time (given their prior regulatory / security requirements), they now seem to have all the tools in hand to invest in cryptocurrencies