Grayscale Aims to Unlock $200M in Bitcoin Cash Value with New ETF Proposals
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Grayscale is seeking to give investors easier access to altcoins through new ETF proposals. The company filed with the SEC to convert its trusts for Bitcoin Cash, Hedera, and Litecoin into spot ETFs, which would list on national exchanges like NYSE Arca.
This conversion would unlock the tradable value of these trusts, which currently often trade at a discount or premium to their net asset value (NAV).
For example, Grayscale’s Bitcoin Cash trust held a NAV of over $202 million as of June 30. The success of these proposals hinges entirely on SEC approval, which is not guaranteed, as the regulator simultaneously delayed action on other altcoin ETFs Tuesday.
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