Cheltenham BT is Bitstream's digitisation of Cheltenham, tracing to the original design commissioned by Ingalls Kimball for the Cheltenham Press in New York. Architect Bertram Goodhue produced the drawings, initially under the name Boston Old Style, before the design was sold to American Type Founders in 1902, where Morris Fuller Benton refined and expanded it into one of the most extensive type families of the early twentieth century.

Cheltenham's abbreviated descenders, pronounced ascenders, blunt serifs, and restrained stroke contrast were conceived to maximize legibility at display sizes while accommodating both hand composition and machine setting. Bitstream's version follows ATF's original specifications closely and is offered in nine styles. It is distinct from Tony Stan's 1975 ITC revision, which raised the x-height and reworked the italics, preserving instead the proportions and character of Benton's ATF family.