Grayscale Bitcoin Cash Trust (BCH), a digital currency investment product, has reported the issuance of 635,300 shares to accredited investors in a private placement, according to a filing with the U.S. Securities and Exchange Commission (SEC) on Wednesday. The shares, tied to the Trust's Net Asset Value (NAV), represent an aggregate of 5,415.27488867 Bitcoin Cash (BCH), valued at approximately $2.16 million.
The shares were sold to selected investors who meet the SEC's criteria for "accredited investors," indicating a level of financial sophistication and capability to sustain the risk of investment losses. Grayscale Bitcoin Cash Trust, which operates as a trust under Delaware's jurisdiction, facilitates exposure to Bitcoin Cash without the need for direct investment or management of the cryptocurrency.
Grayscale Securities, LLC, acting as the Authorized Participant, was responsible for the distribution of the newly issued shares. With this latest issuance, the total number of shares outstanding for the Trust has reached 41,742,300 as of today.
In other recent news, Grayscale Bitcoin Cash Trust, a digital currency investment product, has made significant strides in its operations. The Trust recently reported the private sale of 741,000 shares to accredited investors, raising a total of $2,352,730, according to a filing with the U.S. Securities and Exchange Commission. This issuance resulted in the acquisition of 6,318.79392898 Bitcoin Cash (BCH). The Trust has now issued a total of 41,107,000 shares.
In addition to this, Grayscale Bitcoin Cash Trust also announced the private sale of 530,900 shares to accredited investors. This sale led to the accumulation of 4,533.49755324 Bitcoin Cash (BCH), valued at approximately $1.74 million. The total number of issued and outstanding shares of Grayscale Bitcoin Cash Trust now stands at 40,366,000.
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