Grayscale doubles on Altcoin-based exhibition-related funds. The asset manager has just submitted the very first Bitcoin Cash ETF to the SEC, together with two other archives.
Summary
- Grayscale has submitted an application to convert his Bitcoin Cash Trust into an ETF, so that the first official BCH ETF application is marked at the SEC.
- The company submitted S-3 forms for Bitcoin Cash and Litecoin, and an S-1 for Hedera.
- The proposed Bitcoin Cash ETF will be managed by BNY Mellon, where Coinbase serves as a custodian and Prime broker.
- Grayscale’s newest archives follow requests for chain link, dogecoin, avalanche and XRP ETFs, which emphasizes the growing demand for regulated Altcoin exposure.
Grayscale Investments has submitted New documents for the US Securities and Exchange Commission (SEC) as the her offer of Exchange-Trade Fund (ETF) wants to expand.
Grayswaarden Eyes BCH, LTC and HBar ETFS
The company has submitted A form S-3 registration for his Bitcoin Cash (BCH) Trust, which marks the very first official sec request for a Bitcoin Cash ETF. According to the entry, the proposed ETF will be stated on the NYSE Arca, whereby the Bank of New York Mellon acts as manager of the Trust and Coinbase that serves both the most important broker and the preservator.
In the same spirit, Grayscale submitted An S-3 form for a litecoin (LTC) ETF, aimed at converting its litecoin confidence into an ETF structure. Just like the BCH application, this fund would also be mentioned on NYSE ARCA if approval is granted. The digital asset manager joins Canary and Coinshares, who are waiting for a Litecoin ETF approval.
The third application from the company is based on the token of Hedera (HBar), although with a different approach. Gay values registered His HBar ETF on form S-1, which becomes a member of Canary Capital as the few companies on the waiting list. The submission noted that Nasdaq has already submitted a 19B-4 proposal for the list of the HBar ETF, which should not yet receive approval. The sec recently delayed Her decision about this proposal, which pushes the deadline to November 12. By that time it is expected that the Regulatory Commission is expected to approve or refuses the change of rule that would enable the ETF to act on Nasdaq.
The SEC usually has 180 days to properly approve a proposed change in an exchange rule under American securities legislation, although it can extend the time by another 60 days, usually to consider comments or changes before he makes the decision.
Grayscale, however, stated that his litecoin and bitcoin -continuous archives follow the proposed generic list standards, which the SEC still has to approve. If assumed, these standards would allow certain ETFs to mention without individual exchanges. The company seems to bank on this approach to accelerate approval, instead of initiating the 19B-4 entry process that is traditionally required.
Grayscale extends ETF -Line -Up in the midst of a wider industrial push
The latest archives from Grayscale contribute to the growing selection of applications to get the ETF status for other altcoins. Earlier this week it has submitted to turn his Chainlink Trust into a spot ETF and the currently hanging applications for ETFs linked to Dogecoin (Doge), Ripple (XRP), Avalanche (Avax) and more.
More than 70 crypto ETF applications from different issues are now awaiting the SEC, which underlines the wider industry to expand regulated access to digital assets. The race is also worldwide, because institutional and retail demand for exposure to Altcoin continues to grow.
Despite the delays of the regulations, the momentum and industry -optimism remain strong, with large altcoins such as Solana, Ripple, Cardano and Dogecoin as high opportunities for approval.
