Grayscale Pursues SEC Approval for BCH and Hedera ETFs

Grayscale Files for Bitcoin Cash, Hedera, and Litecoin ETFs with SEC
September 10, 2025

Grayscale expanded its push into crypto-linked investment products on Tuesday, filing with the U.S. Securities and Exchange Commission (SEC) for three new exchange-traded funds. The filings come amid a broader race among issuers seeking regulatory approval for digital-asset ETFs.

The asset manager submitted an S-1 registration for a Litecoin (LTC) ETF, following its earlier attempt to convert the Grayscale Litecoin Trust into an ETF. At the same time, S-3 filings were lodged for ETFs tied to Bitcoin Cash (BCH) and Hedera (HBAR). If approved, these products would join Grayscale’s existing suite of offerings, which includes spot bitcoin and ether ETFs launched last year.

The filings highlight Grayscale’s strategy to diversify its crypto ETF lineup while the SEC weighs how far to expand the market for such products. Just a day earlier, the firm applied to convert its Chainlink (LINK) Trust into an ETF, signaling a rapid pace of applications despite ongoing regulatory uncertainty.

Grayscale is part of a broader industry trend. Firms including Fidelity and VanEck have submitted proposals for digital-asset ETFs in anticipation of potential SEC approvals later this year. Executives say wider approval could make cryptocurrencies more accessible to mainstream investors through regulated markets, while addressing concerns about custody and transparency.

For now, the SEC, under Chair Paul Atkins, has delayed decisions on several crypto ETF applications. Regulatory approval would allow investors to trade crypto exposure alongside traditional securities within brokerage accounts, marking another step toward mainstream adoption.