Grayscale Seeks SEC Nod for Bitcoin Cash (BCH) and Hedera (HBAR) ETFs

Grayscale filed paperwork with the U.S. Securities and Exchange Commission (SEC) on Tuesday for three crypto exchange-traded funds, increasing its roster of potential choices as issuers jockey for regulatory approval.

The asset supervisor submitted an S-1 registration for a Litecoin LTC$111.90 ETF, a transfer that follows its earlier bid to transform the Grayscale Litecoin Trust into an ETF.

At the identical time, it lodged S-3 filings for exchange-traded funds tied to Bitcoin Cash BCH$578.28 and Hedera HBAR$0.2282. If accredited, the merchandise would be a part of a lineup that already contains spot bitcoin and ether ETFs launched final 12 months.

The filings underscore Grayscale’s push to diversify its crypto-linked funding merchandise whereas regulators weigh how far to open the door to such funds. Just a day earlier, the agency sought to transform its Chainlink LINK$23.08 Trust into an ETF, signaling a speedy tempo of functions regardless of regulatory uncertainty.

Grayscale is just not alone. Fidelity, VanEck and a number of different issuers have lined up proposals for digital-asset funds in hopes that the SEC will log out on extra merchandise later this 12 months. Industry executives say broader approval may assist mainstream traders acquire publicity to cryptocurrencies by way of regulated markets, whereas probably easing issues about custody and transparency.

For now, the SEC underneath Chair Paul Atkins has delayed selections on a spread of crypto ETF functions. A inexperienced mild from regulators would give traders a strategy to commerce crypto publicity alongside conventional securities in brokerage accounts.