LITECOIN: BETTER Than Ethereum & Bitcoin in 2021! Massive Potential for Huge Gains!!
In Grayscale trusts, Litecoin and Bitcoin Cash are 300% more expensive
New Grayscale Public Trusts Traded at Huge Premium
The company’s products are in demand among retail traders
Growing interest suggests the market is ready for cryptocurrency ETFs
For some retail investors, Grayscale’s publicly traded cryptocurrency trusts are the only way to invest in a new asset type, says Arcane Research report..
The first investors in assets placed in Grayscale trusts for Litecoin and Bitcoin Cash managed to make good money within a couple of days after the start of public trading.
More expensive through Grayscale
The Grayscale Litecoin Trust kicked off on Monday, August 18th. Since then, the trust has traded at a premium of 753%, according to Arcane Research..
Grayscale Bitcoin Cash Trust Launched Concurrently Shows 351% Premium.
Recall that these trusts were formed in April 2018, but until recently they were only available to accredited (read – very wealthy) investors who have already earned $ 29.2 million from the Bitcoin Cash Trust and $ 19.5 million from the Litecoin Trust. Grayscales does the paperwork for them and ensures safety.
The company opened the trusts for public sale on Monday. This means that the underlying assets of these trusts will be traded like shares. Thus, buyers will be able to invest in cryptocurrency, in this case, Litecoin and Bitcoin Cash, bypassing the difficulties associated with the actual purchase of coins on exchanges and their storage..
What is the secret of success
But why are “stocks” trading at such a huge premium when they represent the underlying asset??
According to experts from Arcane Research, one of the main reasons is that trading these funds is the only opportunity for ordinary Americans to invest in cryptocurrencies through their retirement plans..
Previously BeInCrypto editors reported that Grayscale is enjoying the growing interest in its products.
Other cryptocurrency trusts also have high premiums. For example, the Ethereum trust is now trading at a premium of 93%, and in June it reached 804%. Bitcoin Trust Fixes a Premium of 23%.
“Such high premiums indicate the demand for cryptocurrency investments. The market is definitely ripe for ETFs, ”Arcane says.
Time for ETF
An ETF, or Exchange Traded Fund, is a financial product that allows people to buy shares in indices that track baskets of assets. The US Securities and Exchange Commission has rejected applications for Bitcoin ETFs several times on the grounds that the cryptocurrency market is too highly manipulated..
“We can work with regulators on this asset class within existing regulatory frameworks, but they are simply not ready to approve ETFs yet,” Grayscale managing director Michael Sonnerstein said in an interview last month..