New York, Aug. 17, 2020 (GLOBE NEWSWIRE) — Grayscale Investments®, the world’s largest digital foreign money asset supervisor, right this moment introduced that Grayscale® Bitcoin Cash Trust and Grayscale® Litecoin Trust have obtained DTC-eligibility. Eligible Shares of Grayscale Bitcoin Money Belief can be obtainable to commerce on OTC Markets below the image: BCHG and eligible Shares of Grayscale Litecoin Belief can be obtainable to commerce on OTC Markets below the image: LTCN. This announcement follows FINRA’s verification that the required diligence to start quoting BCHG and LTCN pursuant to Rule 15c2-11 below the Securities Alternate Act of 1934, as amended, has been accomplished.
The Trusts are open-ended trusts sponsored by Grayscale and are meant to allow publicity to the value motion of every Belief’s underlying belongings by way of an funding car, avoiding the challenges of shopping for, storing, and safekeeping digital Bitcoin Money or Litecoin instantly.
SECONDARY MARKETS for the PRIVATE PLACEMENTS
The Trusts have provided personal placements to accredited traders since March 2018. As of July 31, 2020, there have been 6,028,000 Shares excellent of BCHG and every Share represented possession of 0.00941311 Bitcoin Money. As of July 31, 2020, there have been 2,500,800 Shares excellent of LTCN and every Share represented possession of 0.09413112 Litecoin. Shares created by way of every Belief’s respective personal placement turn into eligible to promote into the general public market after a statutory one-year holding interval below Rule 144 of the Securities Act.*
All traders with entry to U.S. securities will be capable of purchase and promote freely-tradable shares of BCHG and LTCN by way of their funding accounts in the identical method as they might different unregistered securities.
INVESTMENT OBJECTIVE
The funding goal of every Belief is for the Shares (based mostly on belongings per Share) to replicate the worth of the belongings held by such Belief, decided by reference to the suitable TradeBlock index at 4:00 p.m. New York time, much less such Belief’s bills and different liabilities. TradeBlock’s BCX Index is the reference for Grayscale Bitcoin Money Belief and TradeBlock’s LTX Index is the reference for Grayscale Litecoin Belief. The Trusts won’t generate any earnings and usually distribute Bitcoin Money and Litecoin respectively, to pay for its ongoing bills. Due to this fact, the quantity of Bitcoin Money and Litecoin represented by every respective Share step by step decreases over time.
The Trusts are usually not registered with the Securities and Alternate Fee and are usually not topic to disclosure and sure different necessities mandated by U.S. securities legal guidelines.
GRAYSCALE PRODUCT FAMILY
Grayscale’s funding merchandise can be found to institutional and particular person accredited traders by way of their respective periodic and ongoing personal placements. Along with its Bitcoin Money (BCH) and Litecoin (LTC) providing, Grayscale’s single-asset funding merchandise present publicity to Bitcoin (BTC), Ethereum (ETH), Ethereum Traditional (ETC), Horizen (ZEN), Stellar Lumens (XLM), XRP, and Zcash (ZEC). Moreover, Grayscale’s diversified funding product, Grayscale® Digital Massive Cap Fund affords protection of the higher 70% of the digital foreign money market by market capitalization. As of July 31, 2020, Grayscale managed roughly $5.2 billion in belongings.
BCHG and LTCN signify Grayscale’s fifth and sixth publicly-quoted funding merchandise. Grayscale® Bitcoin Belief (OTCQX: GBTC), Grayscale® Ethereum Belief (OTCQX: ETHE), Grayscale® Ethereum Traditional Belief (OTCQX: ETCG), and Grayscale® Digital Massive Cap Fund (OTCQX: GDLC) are additionally publicly-quoted and obtainable to all traders with entry to U.S. securities. Traders will be capable of discover present monetary disclosure and Actual-Time Degree 2 quotes for Shares on www.otcmarkets.com/stock/BCHG/overview as soon as buying and selling for BCHG commences and www.otcmarkets.com/inventory/LTCN/overview as soon as buying and selling for LTCN commences.
*Every Belief affords a personal placement to accredited traders. The funding goal of every Belief is for its Shares to replicate the worth of belongings held by such Belief, much less such Belief’s bills and different liabilities. As a result of every Belief doesn’t at the moment function a redemption program, there might be no assurance that the worth of the Shares will approximate the worth of the belongings held by such Belief, much less such Belief’s bills and different liabilities, and the Shares might commerce at a considerable premium over, or a considerable low cost to, such worth and such Belief could also be unable to fulfill its funding goal.
This press launch just isn’t a suggestion to promote or the solicitation of a suggestion to purchase any safety in any jurisdiction the place such a suggestion or solicitation could be unlawful, nor shall there be any sale of any safety in any jurisdiction during which such provide, solicitation or sale could be illegal previous to registration or qualification below the securities legal guidelines of that jurisdiction.
About Grayscale Investments®
Grayscale Investments is the world’s largest digital foreign money asset supervisor, with greater than $5.2B in belongings below administration as of July 31, 2020. By way of its household of 10 funding merchandise, Grayscale gives entry and publicity to the digital foreign money asset class within the type of a standard safety with out the challenges of shopping for, storing, and safekeeping digital currencies instantly. With a confirmed monitor document and unmatched expertise, Grayscale’s merchandise function inside present regulatory frameworks, creating safe and compliant publicity for traders. For extra data, please go to www.grayscale.co and comply with @Grayscale.
Marissa Arnold marissa@grayscale.co
