Grayscale Investments is expanding its universe of crypto products available to the average investor.
It announced that three more of its digital currency trusts, which were previously available only to institutional investors and accredited individual investors, are now trading in the public markets, on the OTCQX, the top tier of the over-the-counter market. The firm also disclosed it was planning to file an application with the Securities and Exchange Commission to convert its popular Bitcoin Trust to a Bitcoin ETF.
The three Grayscale crypto trusts that are now trading on the OTC market y are the Grayscale Zcash Trust (ZCSH), Lumens Trust (GXLM) and Horizen Trust (HZEN). All are open-ended trusts sponsored by Grayscale that provide exposure to their underlying assets without the hassle of buying, storing and safekeeping the assets directly, according to Grayscale. Zcash and Lumens are cryptocurrencies; Horizen is a cryptocurrency and blockchain network.
"This is an important milestone for digital currencies and demonstrates Grayscale's continued commitment to moving each of our products from a private placement to the public markets," said Craig Salm, Grayscale's head of legal.
