Monday, 21 September 2020

Trading to Commence for Grayscale Bitcoin Cash Trust and Grayscale Litecoin Trust

Grayscale Investments, the world's largest digital currency asset manager, today announced that Grayscale(R) Bitcoin Cash Trust and Grayscale(R) Litecoin Trust have received DTC-eligibility. Eligible Shares of Grayscale Bitcoin Cash Trust will be available to trade on OTC Markets under the symbol: BCHG and eligible Shares of Grayscale Litecoin Trust will be available to trade on OTC Markets under the symbol: LTCN. This announcement follows FINRA's verification that the required diligence to begin quoting BCHG and LTCN pursuant to Rule 15c2-11 under the Securities Exchange Act of 1934, as amended, has been completed.

The Trusts are open-ended trusts sponsored by Grayscale and are intended to enable exposure to the price movement of each Trust's underlying assets through an investment vehicle, avoiding the challenges of buying, storing, and safekeeping digital Bitcoin Cash or Litecoin directly.

SECONDARY MARKETS for the PRIVATE PLACEMENTS

The Trusts have offered private placements to accredited investors since March 2018. As of July 31, 2020, there were 6,028,000 Shares outstanding of BCHG and each Share represented ownership of 0.00941311 Bitcoin Cash. As of July 31, 2020, there were 2,500,800 Shares outstanding of LTCN and each Share represented ownership of 0.09413112 Litecoin. Shares created through each Trust's respective private placement become eligible to sell into the public market after a statutory one-year holding period under Rule 144 of the Securities Act.*

All investors with access to U.S. securities will be able to buy and sell freely-tradable shares of BCHG and LTCN through their investment accounts in the same manner as they would other unregistered securities.


source: globenewswire

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