New York, Aug. 17, 2020 (GLOBE NEWSWIRE) — Grayscale Investments®, the world’s largest digital foreign money asset supervisor, immediately introduced that Grayscale® Bitcoin Cash Trust and Grayscale® Litecoin Trust have obtained DTC-eligibility. Eligible Shares of Grayscale Bitcoin Money Belief will probably be obtainable to commerce on OTC Markets below the image: BCHG and eligible Shares of Grayscale Litecoin Belief will probably 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 Change 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 worth motion of every Belief’s underlying belongings by means of an funding automobile, 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 non-public 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 means of every Belief’s respective non-public placement turn out to be 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 have the ability to purchase and promote freely-tradable shares of BCHG and LTCN by means 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 (primarily based 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 revenue 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 usually are not registered with the Securities and Change Fee and usually are 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 means of their respective periodic and ongoing non-public 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 Basic (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 characterize Grayscale’s fifth and sixth publicly-quoted funding merchandise. Grayscale® Bitcoin Belief (OTCQX: GBTC), Grayscale® Ethereum Belief (OTCQX: ETHE), Grayscale® Ethereum Basic 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 have the ability to 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 presently function a redemption program, there could 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 could 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 will not be a proposal to promote or the solicitation of a proposal to purchase any safety in any jurisdiction the place such a proposal or solicitation can be unlawful, nor shall there be any sale of any safety in any jurisdiction through which such provide, solicitation or sale can 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. Via its household of 10 funding merchandise, Grayscale offers 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 observe document and unequalled expertise, Grayscale’s merchandise function inside current regulatory frameworks, creating safe and compliant publicity for traders. For extra info, please go to www.grayscale.co and observe @Grayscale.
Marissa Arnold marissa@grayscale.co
