Grayscale has taken another major step into altcoin ETFs, filing new registrations with the U.S. Securities and Exchange Commission (SEC) that target Hedera, Litecoin, and Bitcoin Cash.
On September 9, the asset manager submitted an S-1 for the Grayscale Hedera ETF, marking the second attempt to launch a publicly traded fund tied to Hedera’s native token (HBAR), after the earlier Canary HBAR ETF bid. It also follows Nasdaq’s prior 19b-4 application to list the product.
At the same time, Grayscale filed S-3 registrations for its Litecoin ETF and Bitcoin Cash Trust (BCH), seeking to convert both into ETFs on NYSE Arca. If approved under the SEC’s Generic Listing Standards, the streamlined process would transform two of Grayscale’s long-standing closed-end funds into regulated ETFs.
According to the filings, Bank of New York Mellon is slated to serve as administrator, with Coinbase providing custody and prime brokerage.
ETF Competition Drives Grayscale Move
Grayscale’s announcements come amid a surge of activity from asset managers vying to introduce a new wave of crypto ETFs, including products for Chainlink, Solana, Dogecoin, and XRP. The SEC has repeatedly postponed decisions on several applications, leaving investors and issuers waiting as the commission weighs both regulatory risks and growing public appetite for crypto exposure.
Notably, the next update from the Securities and Exchange Commission (SEC) about Grayscale’s Hedera ETF is expected by November 12, 2025. While there are no specific deadlines for the Bitcoin Cash and Litecoin ETF conversions, these applications will likely be reviewed around the same time.
Approval of Grayscale’s Hedera, Litecoin, and Bitcoin Cash ETFs would mark another milestone for the industry, especially with the company’s successful conversions of Bitcoin and Ethereum trusts into ETFs in 2024 still fresh in memory.
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