For investors that lack the ability or drive to deal with opening an exchange account, acquiring exposure to assets like Bitcoin Cash, Litecoin, and the like is difficult. Yet on Monday, Grayscale Investments, a cryptocurrency asset manager based in New York, revealed that these barriers to entry are starting to fall.
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Crypto Investing Giant Can Now Offer Litecoin & Bitcoin Cash to the Public
In a press release shared with NewsBTC, Grayscale said it just “received approval from FINRA” to publicly list the shares of two of its funds on OTC Markets — the Grayscale Litecoin Trust and the Grayscale Bitcoin Cash Trust.
This means that these vehicles, which were previously only accessible to accredited investors, can now be bought by retail investors with access to OTC Markets.
The shares for the trusts, which will trade under the tickers BCHG and LTCN, are expected to begin trading “soon.”
Grayscale Closes Record Quarter
This latest news regarding Grayscale’s cryptocurrency products comes as the firm has just closed a record quarter.
The company reported in a document shared with the cryptocurrency community last week:
As reported by NewsBTC previously, this means that the company brought in an average of $57.8 million each week.
A majority of these inflows were directed at Grayscale’s Bitcoin Trust and the firm’s other flagship product, the Ethereum Trust. Seeing the recent FINRA approval, though, Grayscale’s Bitcoin Cash and Litecoin funds could see an influx of investment.
Investors say that the influx of capital that Grayscale has registered is decisively bullish for the cryptocurrency bull case. One data analyst in the space said that Bitcoin and Ethereum have reached a point where institutional inflows are needed to take things to the “next level”:
When that rally arrives, though, is still somewhat unknown.
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Featured Image from Shutterstock Price tags: ltcusd, bchusd Charts from TradingView.com Grayscale Can Now Offer Litecoin and Bitcoin Cash to the Public: FINRA
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