Crypto asset manager Grayscale has taken fresh steps to expand its ETF lineup, filing multiple applications with the U.S. Securities and Exchange Commission for funds tied to Bitcoin Cash, Hedera, and Litecoin. The company submitted S-1, S-3, and related documents, seeking approval to convert its existing closed-end trusts into exchange-traded funds that would trade on NYSE Arca or Nasdaq. This is the same model Grayscale used when it successfully converted its Bitcoin and Ethereum trusts into ETFs earlier this year.
The filings noted that approval would depend on the SEC greenlighting 19b-4 applications or adopting listing standards for altcoin ETFs. Grayscale’s Bitcoin Cash trust reported a net asset value of $202 million at $4.31 per share as of June 30.
ETFs are designed to track asset prices more closely than trusts, which often trade at premiums or discounts. The SEC has delayed action on some altcoin proposals, including Grayscale’s Hedera ETF, though industry watchers expect more approvals in the coming year.
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