U.S.-based crypto custodian Anchorage has added support for litecoin (LTC), the eighth-largest cryptocurrency by market capitalization.
- Institutional investors can now store and trade litecoin from Anchorage's platform.
- The Visa-backed company now supports 27 cryptocurrencies, including bitcoin (BTC), ether (ETH), bitcoin cash (BCH) and XRP, as well as dollar-backed stablecoins like TrueUSD, PAX and USDC.
- Litecoin, forked from Bitcoin in 2011 by founder Charlie Lee, is one of the oldest cryptocurrencies.
- As reasons for adding the asset, Anchorage cited LTC's liquid market and a sizeable group of institutional investors interested in both trading and investing.
- Tuesday, Grayscale Investments, a crypto asset management firm, announced its Litecoin Trust fund had cleared a regulatory hurdle and will now be quoted on over-the-counter markets with the ticker LTCN. (Grayscale is owned by CoinDesk's parent firm, Digital Currency Group.)