Grayscale Investments has taken another step in its crypto ETF expansion strategy, filing with the U.S. Securities and Exchange Commission to convert its Bitcoin Cash Trust into an exchange-traded fund. The renamed “Grayscale Bitcoin Cash Trust ETF” aims to trade on NYSE Arca under the ticker BCHG, with each 10,000-share basket equating to 82.8655 BCH. The ETF will track the Coindesk Bitcoin Cash Price Index and currently uses cash creations, with potential for in-kind redemptions once fully approved.
The move comes after NYSE Arca submitted new Generic Listing Standards for commodity-based exchange-traded products, which, if passed, would allow certain ETFs to list without requiring separate 19b-4 approvals. Grayscale believes BCHG qualifies under these standards.
Beyond Bitcoin Cash, Grayscale is also working on converting its Litecoin Trust into an ETF, with each 10,000-share basket tied to 828.6548 LTC. Crypto markets reacted mildly, with BCH gaining 0.4% on September 10 and 6% in the past two weeks.
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