Grayscale Doubles the Number of its SEC-Reporting Products With LTC, ETC, and BCH
The largest digital asset manager – Grayscale Investments – has announced that the Bitcoin Cash Trust, the Ethereum Classic Trust, and the Litecoin Trust have become SEC reporting products. Thus, the total number grew to six.
- Speaking to Forbes, Grayscale’s CEO – Michael Sonnenshein – indicated that the company’s portfolio of funds reporting to the Securities and Exchange Commission has doubled.
- He specified that those funds were the Grayscale Bitcoin Cash Trust (BCHG), the Grayscale Ethereum Classic Trust (ETCG), and the Grayscale Litecoin Trust (LTCN).
- Having to report to the country’s securities regulator means that these products will need to provide the Commission with regular financial statements and disclosures.
“This is something that investors not only have expressed wanting, but something that we feel they deserve.” – commented Sonnenshein. The creation of SEC reporting companies has “opened Grayscale to a wider audience of investors who are typically used to seeing that [type of reporting] when they think about making investments.”
- The necessary lock-up period for investments in the aforementioned funds has been reduced from 12 to 6 months. The same transition occurred when the first three Grayscale trusts became SEC reporting entities. Namely, those are the Bitcoin Trust, the Ethereum Trust, and the Digital Large Cap Fund.
- Grayscale’s assets under management have grown significantly in the past few years. As of yesterday, the amount was $43 billion, with GBTC having more than $30 billion.
- It’s worth noting that the company is striving to convert its largest trust into an exchange-traded fund tracking the performance of the primary cryptocurrency. Its latest push on this matter came a few months ago when it hired a new Global Head of ETFs.
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.