September 15th• 3 min read
Grayscale Files First Bitcoin Cash ETF with SEC
<cite index="1-5,7-1,7-2">Grayscale submitted the first-ever Bitcoin Cash ETF application to the SEC on September 9, seeking to convert its $202M trust into an exchange-traded fund that could open institutional access to BCH.</cite>
Key takeaways
🏛️ Historic Filing: Grayscale submitted the first Bitcoin Cash ETF application to the SEC, marking a potential milestone for BCH institutional adoption.
💰 Significant Assets: The existing Bitcoin Cash Trust holds over $202 million in net assets, demonstrating substantial institutional interest.
⏰ Review Timeline: The SEC has up to 180 days to review the filing, with potential for additional 60-day extensions if amendments are needed.
📈 Market Position: Success could help BCH climb market cap rankings and compete with Avalanche and Stellar for the 15th position.
🔗 Infrastructure Ready: Bank of New York Mellon will serve as administrator with Coinbase providing custody services, ensuring robust operational framework.
Deep dive
Grayscale's September 9 filing represents a significant milestone for Bitcoin Cash, as it becomes the first cryptocurrency after Bitcoin and Ethereum to receive a formal ETF application from the asset management giant.
The proposed ETF would convert Grayscale's existing Bitcoin Cash Trust, which holds over $202 million in assets, into an exchange-traded fund listed on NYSE Arca.
This development follows Grayscale's successful conversion of its Bitcoin and Ethereum trusts into ETFs in 2024, which collectively attracted over $1.2 trillion in cumulative trading volume.
The filing leverages the SEC's proposed Generic Listing Standards, potentially streamlining the approval process compared to individual rule-change proposals.
If approved, the BCH ETF could provide institutional investors with regulated exposure to Bitcoin Cash, potentially driving significant capital inflows and legitimizing BCH's position as a major digital asset alongside Bitcoin and Ethereum.
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Disclaimer: This article may contain content generated or assisted by AI, based on information from public sources. While we aim for accuracy, no content should be taken as financial or trading advice. Always do your own research and consult a professional before making investment decisions. Markets are volatile and involve risk.
