Grayscale is doubling down on altcoin-based exchange-traded funds. The asset manager just filed the first-ever Bitcoin Cash ETF with the SEC, along with two other filings.
Summary
- Grayscale has submitted an application to convert its Bitcoin Cash Trust into an ETF, marking the first official BCH ETF filing with the SEC.
- The firm filed S-3 forms for Bitcoin Cash and Litecoin, and an S-1 for Hedera.
- The proposed Bitcoin Cash ETF will be administered by BNY Mellon, with Coinbase serving as custodian and prime broker.
- Grayscale’s latest filings follow applications for Chainlink, Dogecoin, Avalanche, and XRP ETFs, highlighting the growing demand for regulated altcoin exposure.
Grayscale Investments has submitted new documents to the U.S. Securities and Exchange Commission (SEC) as it seeks to expand its exchange-traded fund (ETF) offerings.
Grayscale eyes BCH, LTC, and HBAR ETFs
The firm has filed a Form S-3 registration for its Bitcoin Cash (BCH) Trust, marking the first-ever official SEC filing for a Bitcoin Cash ETF. According to the submission, the proposed ETF will be listed on the NYSE Arca, with the Bank of New York Mellon acting as the Trust’s administrator and Coinbase serving as both the prime broker and custodian.
In the same vein, Grayscale submitted an S-3 form for a Litecoin (LTC) ETF, aiming to convert its Litecoin Trust into an ETF structure. Like the BCH filing, this fund would also be listed on NYSE Arca if approval is granted. The digital asset manager joins the likes of Canary and CoinShares, who await a Litecoin ETF approval.
The firm’s third filing is based on the Hedera (HBAR) token, though with a different approach. Grayscale registered its HBAR ETF on Form S-1, joining Canary Capital as the few firms on the waitlist. The filing noted that Nasdaq has already submitted a 19b-4 proposal for the listing of the HBAR ETF, which is yet to gain approval. The SEC recently delayed its decision on this proposal, pushing the deadline to November 12. By then, the regulatory commission is expected to either approve or deny the rule change that would allow the ETF to trade on Nasdaq.
The SEC typically has 180 days to approve a proposed change in an exchange rule, under U.S. securities law, although it may extend the time by an additional 60 days, usually to consider comments or amendments before finalizing its decision.
However, Grayscale stated that its Litecoin and Bitcoin Cash filings follow the proposed Generic Listing Standards, which the SEC has yet to approve. If adopted, these standards would allow certain ETFs to list without going through individual rule-change proposals. The firm appears to be banking on this approach to expedite approval, rather than initiating the 19b-4 filing process that is traditionally required.
Grayscale expands ETF lineup amid broader industry push
Grayscale’s latest filings add to its growing roster of applications to gain ETF status for other altcoins. Earlier this week, it filed to convert its Chainlink Trust into a spot ETF and currently has pending applications for ETFs linked to Dogecoin (DOGE), Ripple (XRP), Avalanche (AVAX), and more.
More than 70 crypto ETF applications from various issuers are now pending with the SEC, underscoring the wider industry push to expand regulated access to digital assets. The race is also global, as institutional and retail demand for altcoin exposure continues to grow.
Despite regulatory delays, momentum and industry optimism remain strong, with major altcoins such as Solana, Ripple, Cardano, and Dogecoin seen as having high chances of approval.
Source: https://crypto.news/bitcoin-cash-joins-etf-lineup-as-grayscale-submits-fresh-filings/
