Crypto asset management company Grayscale has filed new applications with the U.S. Securities and Exchange Commission (SEC), requesting approval for exchange-traded funds (ETFs) for Bitcoin Cash (BCH), Hedera (HBAR), and Litecoin (LTC).
Grayscale Submits Bitcoin Cash, Hedera, and Litecoin ETF Applications to the SEC
The company’s S-1, S-3, and related documents provide for the conversion of existing closed-end trusts into ETFs. These ETFs are planned to be listed on NYSE Arca or Nasdaq. Grayscale used the same process to convert its Bitcoin and Ethereum trusts into ETFs in 2024.
Grayscale’s Litecoin ETF application states, “This prospectus has been prepared assuming that the 19b-4 filing has been approved by the SEC or that general standards permitting listing on NYSE Arca have been adopted.”
The filing comes amid growing interest in altcoin ETFs. Similar filings have been filed for assets ranging from Dogecoin to XRP, while the SEC this week postponed its decision on Grayscale’s spot Hedera ETF and Bitwise’s Dogecoin ETF.
According to filings, Grayscale’s Bitcoin Cash trust had over $202 million in net assets as of June 30. Closed-end trusts typically trade at a premium or discount to net asset value, while ETFs, with their open-ended structure, create and destroy shares based on supply and demand, keeping the price closer to NAV.
Grayscale’s previous lawsuit against the SEC played a crucial role in the agency’s eventual approval of Bitcoin and Ethereum ETFs. Spot Bitcoin ETFs, which began trading in January 2024, have reached over $1.2 trillion in trading volume to date.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/cryptocurrency-giant-grayscale-requests-sec-etf-approval-for-three-altcoins-details-here/
