The U.S. Financial regulators have approved the shares of Grayscale Investments for BCH and LTC to be sold on the OTC markets.
Anyone who had once thought of investing in BCH and LTC through Grayscale Investments can now be hopeful because the company will soon list its shares on the OTC market.
Grayscale made the approval granted to it by the Financial Regulatory Authority (FINRA) in the U.S. known on July 20. Buyers can also identify the shares with the symbols BCHG and LTCN for Bitcoin Cash and Litecoin respectively.
However, the shares cannot be sold before getting another approval from the Depository Trust Company (DTC) which works as a Central Securities Depository.
This was part of the announcement on July 20:
“There will be no trading volume in the shares’ public quotations until the respective shares are DTC eligible, which BCHG and LTCN are expected to receive soon.”
Grayscale mentioned that its total value of shares for Bitcoin Cash as of June 30 was 2,725,300 worth $5.8 million assess while Litecoin shares being managed totaled 509,400 and was worth $2 million.
Tokens trading publicly
Grayscale introduced cryptocurrency trust for people who would like to invest in different cryptocurrencies without buying the real coins by themselves. The firm believes this is advantageous to those who do not want to be involved in “the challenges of buying, storing, and safekeeping digital Bitcoin Cash or Litecoin directly.”
Apart from Bitcoin Cash and Litecoin, there are other tokens trading publicly from Grayscale on the OTC. They include Bitcoin, Ethereum and Ethereum Classic. One can also invest in Horizen (ZEN), Ripple (XRP), Stellar Lumens (XLM, and Zcash (ZEC) through the Grayscale’s trusts.
Presently, Bitcoin Cash (BCH) is worth about $225 while Litecoin’s value is around $42.30. Data from CoinMarketCap states that LTC’s market cap is the ninth while BCH occupies the fifth position.