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Grayscale Files will convert the Bitcoin Cash, Hedera, and Litecoin funds into ETFs.
The cryptocurrency asset management company Grayscale has submitted a series of applications to the Securities and Exchange Commission (SEC) to convert its existing closed-end funds for Bitcoin Cash (BCH), Hedera (HBAR), and Litecoin (LTC) into exchange-traded funds (ETF).
The proposed ETFs are expected to be listed on major exchanges such as NYSE Arca or Nasdaq. This strategy reflects the company's successful approach in 2024 when it transformed its core Bitcoin and Ethereum funds into ETFs. However, the filings submitted depend on whether the SEC will approve the necessary regulatory changes to allow these products to be listed. This news comes at a time when the SEC is delaying action on other altcoin ETF proposals, including a proposal for Grayscale's spot Hedera product.