BCHG premium goes below 200% , previously the NAV was up to 400%-500% above spot. This may be a subtle sign that an ETF is coming. Also we are seeing new BCHG shares created often showing demand.

Recent new shares issued example filing: Likely institutions who can not buy on crypto exchanges are buying at spot prices by creating new shares, showing large demand , the fund has close to 400k BCH and is growing: https://www.sec.gov/ix?doc=/Archives/edgar/data/1732409/000095017024129237/bchg-20241116.htm

NAV was up to 4-5x spot, now down to less than 2x spot, may be a signal that the premium is going away due to an ETF on the horizon which will cause the premium to disappear instantaneously : https://www.grayscale.com/crypto-products/grayscale-bitcoin-cash-trust