Bitcoin Investment Trust will sell 173k BCC coins

Grayscale Investments, the sponsor of the Bitcoin Investment Trust (BIT), announced a distribution of Bitcoin Cash to their holders of 1,868,700 share
27 October 2017   2546

The investment company Grayscale Investments, standing behind the Bitcoin Investment Trust, announced the sale of 1,868,700 shares denominated in Bitcoin Cash and the further distribution of the funds received among the company's shareholders. This is reported by the TrustNodes.

At the time of announcement, the shares were valued at 0.09258535 BCH, which together is equivalent to 173 014 BCH or $ 57 786 676.

Distribution of funds among shareholders will begin on November 6, 2017 and will last no more than 90 days. Bitcoin Investment Trust will assign commission and administrative expenses to shareholders.

How exactly Grayscale Investments plans to sell Bitcoin Cash, however, is not specified. As stated in the statement of the company Barry Silbert, "Bitcoin Cash is currently traded on many sites."

Bitcoin Cash Price

At the moment of press, average BCC price is $353.41.

Bitcoin Cash price chart
Bitcoin Cash price chart

Bitcoin Cash marketcap is $5,910,443,986  and 24h volume is $335,775,000. 

SBI to Delist Bitcoin Cash

It is also worth noting SBI won't delist Bitcoin SV, which will be delisted by Binance and ShapeShift.
17 April 2019   435

The Japanese exchange SBI Virtual Currencies will delist Bitcoin Cash (BCH) in June Cointelegraph reports.

It is noteworthy that SBI won't delist Bitcoin SV, which will be delisted by Binance and ShapeShift.

Among the main reasons for the delisting of the exchange called the decline in market capitalization of Bitcoin Cash. Also, representatives of the marketplace are convinced that BCH has recently become more at risk of an “attack of 51%.”

This material is not part of the rules for the management system of virtual currency related information of Japan Virtual Currency Exchange Business Association.
 

SBI

In addition, AMB Crypto reports that SBI is dissatisfied with the consequences of hard forks, as a result of which the BSV asset appeared, and Bitcoin Cash cryptocurrency itself has lost a significant part of its value in a short time.

Some users of social networks have expressed the opinion that the true reason for delisting Bitcoin Cash lies in the partnership of the management of the exchange with the company nChain, where Craig Wright, who supports Bitcoin SV, works.

Large exchange OKEx decided not to delist Bitcoin SV too. Moreover, until April 19, the launch of the FloatSV cryptocurrency exchange, created in partnership with OKEx, is expected to be launched, the main asset of which will be Bitcoin SV.