On Sept. 9, 2025, Grayscale filed fresh paperwork with the U.S. Securities and Exchange Commission (SEC) to convert three of its closed-end trusts into exchange-traded funds (ETFs). The filings cover funds tied to Bitcoin Cash (BCH), Litecoin (LTC), and Hedera (HBAR)—marking a major step in Grayscale’s expansion beyond Bitcoin and Ethereum ETFs.
BCH Trust ETF – “BCHG”
Grayscale’s Bitcoin Cash Trust will rebrand as the Grayscale Bitcoin Cash Trust ETF and aims to list on NYSE Arca under the ticker BCHG. Each basket of 10,000 shares will require about 82.86 BCH. While currently using cash creations, in-kind activity may follow if NYSE Arca finalizes its updated listing standards.
Litecoin Trust ETF – “LTCN”
The Grayscale Litecoin Trust will also seek an NYSE Arca listing under the ticker LTCN. Each basket will represent around 828 LTC, with similar mechanisms for creation and redemption.
Hedera Trust ETF – “HBAR”
For Hedera, Grayscale filed an S-1 to create a new trust targeting a Nasdaq listing under the ticker HBAR. Coinbase Custody will serve as custodian, while Coinbase, Inc. acts as prime broker. This filing also faces pending SEC approval.
Why This Matters
These filings mirror Grayscale’s 2024 pathway for Bitcoin (BTC) and Ethereum (ETH) ETFs, which successfully transitioned from OTC trusts into fully listed exchange products. If approved, the move could unlock regulated altcoin exposure for U.S. investors, expanding institutional access to assets beyond Bitcoin and Ethereum.
With BCH, LTC, and HBAR seeing modest gains recently, market watchers are asking the big question: Will the SEC open the door for a new wave of altcoin ETFs?
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