Grayscale Taps NYSE Arca for Bitcoin Cash Trust ETF Conversion

Grayscale Investments is taking its next step in converting its Bitcoin Cash Trust into a spot exchange-traded fund (ETF). The move, outlined in an amended S-3 registration statement filed with the U.S. Securities and Exchange Commission on September 11, would rename the Grayscale Bitcoin Cash Trust as the Grayscale Bitcoin Cash Trust ETF and list its shares on NYSE Arca under the BCHG ticker.

The trust issues shares representing fractional ownership in Bitcoin Cash, currently quoting on the OTCQX market under BCHG. Once listed on NYSE Arca, the sponsor, Grayscale Investments Sponsors, LLC, intends to rename the vehicle Grayscale Bitcoin Cash Trust ETF. The conversion mirrors Grayscale's earlier moves to convert single-asset trusts into spot ETFs.

The planned listing would lean on the exchange's proposed Rule 8.201-E, a generic listing standard for commodity-based exchange-traded products. Grayscale has framed such conversions as a way to align trust share prices more closely with the value of the digital assets they hold.