Grayscale Launches Crypto Investment Trusts for BCH, ETH, XRP, and LTC
Grayscale Investments has announced the launch of four new single-asset cryptocurrency investment trusts for bitcoin cash, ether, litecoin, and ripple. The company already manages three other single-asset crypto trusts for bitcoin, ethereum classic, and zcash, in addition to a recently-launched crypto large-cap fund.
Grayscale’s Four New Crypto Trusts
We remain focused on product creation and will continue to launch more single-asset and diversified products to provide exposure where investors are looking for it.
In an interview with Bloomberg, he reiterated that 'There will be more offerings coming from the Grayscale family this year,' adding that some will focus on single currencies while others may hold several coins.
Furthermore, Grayscale announced the launch of its Digital Large Cap Fund last month which invests in BTC, ETH, XRP, BCH, and LTC. The company’s founder and CEO, Barry Silbert, commented at the time, 'We're excited to further expand the universe of Grayscale's product offerings as interest in the digital currency asset class continues to grow.'
Investing in Grayscale’s Crypto Trusts
Each Grayscale trust’s investment objective is for its shares to reflect the value of the cryptocurrency it holds, 'as determined by reference to the Tradeblock index for each digital asset at 4:00 p.m. New York time, less each Trust’s expenses and other liabilities,' the company explained.
These trusts are private placements, available only to accredited investors, as defined by Rule 501(a) of Regulation D of the U.S. Securities Act, Grayscale detailed, adding that they do not currently operate a redemption program.” In accordance with Rule 144 under the same act, the company further noted that:
Each Trust’s shares are subject to a one-year holding period…before they can be resold without restriction.
Need to calculate your bitcoin holdings' Check our tools section.
The post Grayscale Launches Crypto Investment Trusts for BCH, ETH, XRP, and LTC appeared first on Bitcoin News.
Bitcoin in Brief Tuesday: Crypto Bets, Viruses, Messages, All Because of Football
All Regulated Japanese Exchanges to Prohibit Insider Trading and Privacy Coins
Swiss Crypto Company Acquires License to Distribute Funds to Investors
Bitcoin in Brief Monday: From New York to Historic Istanbul Market
An Inside Look at the Electron Cash Wallet Coming to iOS