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Grayscale Doubles the Number of its SEC-Reporting Products With LTC, ETC, and BCH

Jordan Lyanchev Sep 10, 2021 12:50
Three more of Grayscale's cryptocurrency products have become SEC-reporting companies.

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.
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Jordan Lyanchev

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

Tags: GrayscaleSEC