Grayscale has filed registration statements for its Litecoin, Hedera, and Bitcoin Cash ETFs, indicating plans to offer funds that provide spot exposure to these crypto assets. Notably, this marks the first BCH ETF filing, while there are other pending applications for LTC and HBAR ETFs from other fund issuers.
Grayscale Files For First Bitcoin Cash ETF
An SEC filing shows that the asset manager has filed an S-3 form for the first BCH ETF, as it looks to convert its Bitcoin Cash Trust into an ETF. The fund will list on the NYSE Arca with the Bank of New York Mellon as the Trust’s administrator, while Coinbase will be the prime broker. The crypto exchange’s custody arm will be the Trust custodian.
Grayscale revealed that it has filed the registration statement for its Bitcoin Cash ETF in line with the proposed Generic Listing Standards, which the SEC has yet to approve. The asset manager believes that shares of the fund will qualify for listing and trading on the NYSE Arca if the SEC adopts the Listing Standards.
This is similar to Grayscale’s Chainlink ETF filing yesterday, as it also seeks to convert its Chainlink Trust into an ETF. Based on these filings, the asset manager is likely to wait for the SEC to approve the Generic Listing Standards rather than push for a 19b-4 application for these funds.
Just like the Chainlink and Bitcoin Cash ETFs filings, Grayscale also filed an S-3 form for its Litecoin ETF, as it looks to convert its LTC Trust into an ETF. The LTC ETF will also list on the NYSE Arca just like the LINK and BCH ETFs, if the SEC eventually approves the Generic Listing Standards.
Grayscale Files S-1 For Hedera ETF
Unlike the Litecoin and Bitcoin Cash ETF filings, Grayscale filed an S-1 form for its Hedera ETF. The asset manager noted that Nasdaq had already filed a 19b-4 application to list and trade shares of the Hedera ETF.
Unlike the other crypto ETF filings, the asset manager doesn’t have a closed-end fund for Hedera, which it would otherwise have filed to convert into an ETF. The SEC has so far postponed its decision on the proposed rule change to list and trade shares of this Grayscale Hedera ETF.
The final deadline would be on November 12, when the Commission has to approve or disapprove the proposed rule change. However, Canary’s final deadline for its Hedera ETF comes up on November 8, and there is the possibility that the SEC could approve both funds at the same time.
Boluwatife Adeyemi
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