After Bitcoin (BTC) and Ethereum (ETH), it is the turn of Litecoin (LTC) and Bitcoin Cash (BCH) to enter the stock market. The large digital asset manager Grayscale has just announced that its two products based on LTC and BCH will be accessible to all traditional stock marketers.
Bitcoin Cash and Litecoin enter stock exchange listing
A little less than a month after the Financial Industry Regulatory Authority (FINRA) gave its approval , the Grayscale Bitcoin Cash Trust and Grayscale Litecoin Trust funds will be open to the public , on the over-the-counter (OTC) exchanges .
According to the press release from Grayscale Investments , Bitcoin Cash and Litecoin will therefore be traded under the symbols BCHG and LTCN respectively . However, the precise date for starting their listing has not yet been specified.
Recall that the Grayscale investment products represent shares in trusts which have actually of cryptos in underlying . They therefore avoid investors having to ask themselves the thorny question of crypto-asset storage , which explains the success of Grayscale's products with institutional funds .
Cryptocurrencies more and more in demand by traditional finance
Proof of the growing investor interest in cryptos: The amounts of BCH and LTC in their respective Grayscale trust have never been greater .
On July 31, 2020, Grayscale announced that 56,742 BCH under management, approximately $ 17.8 million , and 235,403 LTC , or 15.5 million dollars at current prices.
BCHG and LTCN become Grayscale's fifth and sixth cryptocurrency- based products to be listed on the OTC stock markets.
Grayscale's Bitcoin and Ethereum funds are already breaking record after record . As for the listing of these two additional new cryptos (BCH and LTC), they will allow new altcoin enthusiasts to further diversify their portfolio in cryptocurrencies.
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