OTC Markets Group, the operator of economic markets for 11,000 U.S. and world securities is at the moment trending within the information.
Right this moment, we welcome three new @Grayscale merchandise to our #OTCQX Greatest Market: Grayscale Stellar Lumens Belief (OTCQX: $GXLM), Grayscale Zcash Belief (OTCQX: $ZCSH), and Grayscale Horizon Belief (OTCQX: $HZEN).
Be taught extra about these choices: https://t.co/j7KA8ZQ4yt pic.twitter.com/pWmRgQ2NTo
— OTC Markets Group (@OTCMarkets) October 18, 2021
Barry Silbert, the CEO of Digital Foreign money Group, reiterated the identical improvement on his Twitter platform. Now as per this replace, the three trusts talked about, above will commerce underneath the image “GXLM”, “HZEN,” and “ZCSH”.
Significance of this improvement
Grayscale’s head of authorized, Craig Salm stated:
“This is a vital milestone for digital currencies, and demonstrates the continued maturation of the asset class.
For the previous six years, buyers have leveraged Grayscale merchandise and the OTCQX Market to achieve diversified publicity to the digital forex ecosystem, and we’re happy that they’ll now be capable of entry Horizen (HZEN), Stellar Lumens (GXLM), and Zcash (ZCSH) as publicly-quoted securities in a United States market.”
Ergo, the primary benefit for retail buyers could be publicity to the market with out going by way of really shopping for the underlying property.
What’s extra, Grayscale will probably be changing its Bitcoin Belief right into a bodily settled exchange-traded fund (ETF). Jennifer Rosenthal, the corporate’s communications director shed light on the identical in a sequence of tweets. She acknowledged that Grayscale file for SEC approval as quickly as there’s a “clear” and “formal” indication from the regulator.
Right this moment, I’m pleased to substantiate that @Grayscale *WILL* file for $GBTC to be transformed into an #ETF as quickly as there’s a transparent, formal indication from the SEC.
— Jennifer Rosenthal (@jenn_rosenthal) October 18, 2021
Rumors of Grayscale’s purported ambitions for a Bitcoin ETF started circulating final week. A CNBC report claimed that Grayscale was ready for the primary Bitcoin ETF approval.
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