Grayscale Doubles SEC Reporting Trusts
Grayscale Investments, the world’s largest digital currency asset manager and sponsor of Grayscale® Bitcoin Cash Trust, Grayscale® Ethereum Classic Trust, and Grayscale® Litecoin Trust (the Trusts), announced that the Registration Statements on Form 10 that it filed with the Securities and Exchange Commission (SEC) on behalf of each Trust have become effective.
MILESTONE: Grayscale #Bitcoin Cash Trust, Grayscale #Ethereum Classic Trust and Grayscale #Litecoin Trust are all now #SEC reporting companies, marking six of our products with that distinction. Read more here: https://t.co/Hc1VoKqtdR $BCHG $ETCG $LTCN pic.twitter.com/Odazi2hDuD
— Grayscale (@Grayscale) September 10, 2021
The Trusts join the firm’s existing lineup of investment products with the same designation, Grayscale® Bitcoin Trust, Grayscale® Ethereum Trust and Grayscale® Digital Large Cap Fund, which means Grayscale now has six SEC reporting companies.
“This milestone reflects Grayscale’s continued commitment to offering transparent investment vehicles that voluntarily exceed standard reporting requirements, meet a heightened level of disclosure, and are subject to additional regulatory oversight,” said Craig Salm, Vice President of Legal at Grayscale Investments. “As we await regulatory approval for a Bitcoin ETF, we remain focused on providing investors with opportunities to access the digital currency ecosystem through Grayscale’s secure, trusted family of products.”
This development aligns with Grayscale’s intent to move each of its digital currency investment vehicles through the product development pipeline described in an April 2021 blog post, ultimately to convert each product into a digital currency ETF.
The Trusts* will now file additional reports and financial statements, including 10-Qs and 10-Ks, with the SEC, along with existing reports on Form 8-K, in addition to complying with all other obligations under the Exchange Act.
Additionally, accredited investors who purchased shares in the Trusts’ private placements will have an earlier liquidity opportunity, as the statutory holding period of private placement shares will be reduced from 12 months to 6 months under Rule 144 of the Securities Act of 1933, as amended (Securities Act).**
As a result of the Trusts becoming SEC reporting companies, each Trust’s shares are now registered pursuant to Section 12(g) of the Exchange Act.***
With Thejas Nalval, Co-Founder and Chief Investment Officer, Parataxis Capital
Corporate Sustainability Reporting Directive elevates sustainability information to same level as financial.
Essentia analyses data to create behavorial “nudges” for fund managers' investment decisions.
With Adam Conn, Head of Trading, Baillie Gifford
Partnership will develop a suite of U.S.-listed, physically backed ETFs.