Breaking: Grayscale’s Three Independent Crypto Trusts Become SEC Reporting Companies
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Grayscale, the world’s largest crypto asset manager made another compliance breakthrough as three of its independent crypto trust namely Litecoin Trust ($LTCG), Bitcoin Cash Trust ($BCHG), and Ethereum Classic Trust ($ETCG) became SEC reporting companies. Earlier, this year, the asset managers Digital Large Cap Fund ($GDLC) also became an SEC reporting company. The recent induction takes the total number of Grayscale products that are SEC reporting companies to five.
Grayscale CEO Michael Sonnenshein called it a great regulatory win that would open the gates for crypto investment to new investors that are regulation-centric. He explained,
“This is something that investors not only have expressed wanting but something that we feel they deserve, He added, SEC reporting status 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 three independent crypto funds from Grayscale would see their lock-up period get reduced from 12-month to 6-months. Other benefits include a potential smoother transition to an Exchange Traded Fund (ETF), once the SEC clears the first crypto ETF in the US.
This story is being updated
The post Breaking: Grayscale’s Three Independent Crypto Trusts Become SEC Reporting Companies appeared first on Coingape.