Is it technically possible to wrap other cryptocurrencies (like BTC) in a BCH smart contract represented by a token?

The amount of BTC wrapped in ethereum (WBTC) got me thinking, would it be possible to create something like that on bch?

The way that I understand wbtc, is that while its verifiable, it's not trustless, because of the governance model.

And my understanding is that it would also be (technically speaking) trivial to make a company and promise to hold BTC and create a SLP for people to transact with on the BCH ecosystem.

My question is: would it be technically possible (through cryptography) to wrap/lock BTC (or other Cryptos) in a BCH smart contract in a permisionless, verifiable and trustless way?