Earlier this week, Grayscale Investments, the operator of the Bitcoin Investment Trust (OTCQX: GBTC) , introduced the Bitcoin Cash Investment Trust, Ethereum Investment Trust, Litecoin Investment Trust, and XRP Investment Trust.
“Adding Bitcoin cash and Litecoin would increase Gemini’s offerings to the same as Coindesk Inc., a major U.S. rival. That could boost the value of both: When Coinbase added coins in the past, the prices shot up,” according to Bloomberg.
Bitcoin is a decentralized digital currency, or cryptocurrency, based on a peer-to-peer network and can be exchanged through computers internationally without a financial intermediary. The system was first introduced by an unidentified programmer or group under the name of Satoshi Nakamoto in 2009.
For more information on the cryptocurrency, visit our Bitcoin category.