The value of assets under management for crypto fund manager Grayscale Investments’ Bitcoin Cash Trust has fallen $1.6 million following the announcement that the crypto asset would be forking on Nov. 15.
According to data from Coin Dance, the Bitcoin Cash (BCH) network has now split into two blockchains. Currently, miner action appears to be favoring the community-driven Bitcoin Cash Node, or BCHN. Crypto exchange Binance’s pool was responsible for mining block 661,647 — the last common block before the fork.
At the time of publication, miners have mined roughly 27 blocks for BCHN and none for Bitcoin ABC, or BCHA.
Since the Nov. 15 fork was announced, crypto users have generally been sending more BCH through exchanges, depositing more than $300 million of the tokens in November. While Grayscale has seemingly added to its holdings of BCHG shares in that time, the value of assets under management in its Bitcoin Cash Trust has decreased. According to updates posted to