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Grayscale To Bitcoin Cash And Litecoin Available

Grayscale investment is a crypto fund manager which is trying to open up new dimensions on his platform. Grayscale will make Bitcoin Cash and Litecoin available in a bid to allow public trading.

Grayscale had announced that Financial Industry Regulatory Authority (FINRA) in the US has approved shares of the firm’s Bitcoin Cash Trust and Litecoin Trust for public trading. The two stocks will be available on OTC markets under the symbols BCHG and LTCN, the announcement added.

“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,” the announcement stated.

By the end of June, Grayscale had 2,725,300 shares in the Bitcoin price. It is evaluated around $5.8 million assets under management and 509,400 shares of the Litecoin Trust totaling $2 million.

Grayscale Bitcoin Trust enables investors to gain exposure to the price movement of bitcoin through a traditional investment vehicle, without the challenges of buying, storing, and safekeeping bitcoins.

Bitcoin Cash and Litecoin are among the fifth and sixth place offering from Bitcoin.

According to a report in Cointelegraph, the firm received approval to list shares of Bitcoin (BTC), Ethereum (ETH), and Ethereum Classic (ETC). Horizen (ZEN), Stellar Lumens (XLM), XRP, and Zcash (ZEC) are also available for trading through a trust at the investment firm.

CoinMarketCap had asserted that BCH is rated as the fifth largest token by market cap, while LTC is the ninth.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.