Grayscale Files for New Altcoin ETFs
Grayscale has filed three new ETF applications with the U.S. Securities and Exchange Commission (SEC). The filings cover Litecoin (LTC), Hedera (HBAR), and Bitcoin Cash (BCH) ETFs. This move follows Grayscale’s plan to convert its existing altcoin Trusts into ETFs.
Details of the ETF Filings
- Grayscale submitted an S-1 registration for the Hedera ETF.
- The firm filed S-3 statements for Litecoin and Bitcoin Cash ETFs.
- Nasdaq filed a 19b-4 application to list Grayscale’s Hedera Trust ETF.
- The New York Stock Exchange (NYSE) filed to convert the Litecoin Trust into an ETF.
- Grayscale’s Bitcoin Cash ETF filing uses proposed Generic Listing Standards, pending SEC approval.
None of the 19b-4 applications have been approved by the SEC yet. Grayscale aims to replicate its success with the Bitcoin Trust, which became the first U.S. spot Bitcoin ETF listed on NYSE Arca in 2024.
What This Means for Investors
Converting Trusts into ETFs will make these altcoins easier to trade on major exchanges. This change could increase access for both retail and institutional investors. Analysts say Litecoin ETFs have a higher chance of SEC approval compared to other altcoin ETFs.
Grayscale’s latest filings come amid growing interest in altcoin ETFs. Over 80 altcoin ETF applications are currently under SEC review.
