Grayscale boosts crypto ETF pursuit with filings for Litecoin, Hedera and Bitcoin Cash funds

Grayscale has shown interest in a new number of exchange-traded funds (ETFs) on Tuesday, filing an S-1 statement for Hedera (HBAR) alongside S-3 submissions for Litecoin (LTC) and Bitcoin Cash (BCH) products to the Securities & Exchange Commission (SEC).

Grayscale files to launch Litecoin, Bitcoin Cash and Hedera ETFs

Asset manager Grayscale has expressed interest in a new wave of spot cryptocurrency ETFs, having submitted three separate applications to the SEC, according to the regulator's dashboard. The applications focus on launching altcoin products for Litecoin, Hedera, and Bitcoin Cash.

Grayscale aims to convert its existing Trust versions of these tokens into ETFs, mirroring a similar procedure it carried out with its Bitcoin and Ethereum trusts in 2024. The process enables these assets to be more readily traded on mainstream exchanges, thereby enhancing accessibility for both retail and institutional investors.

The S-1 registration for HBAR follows an earlier 19b-4 application from Nasdaq to enable the listing and trading of Grayscale's Hedera Trust, submitted earlier this year.

"In connection with this registration statement, on February 28, 2025, Nasdaq Stock Market LLC, filed an application with the Securities and Exchange Commission pursuant to Rule 19b-4 [...] to list the shares of Grayscale Hedera Trust ETF on NASDAQ," the filing states.

Similarly, the New York Stock Exchange (NYSE) has filed to convert Grayscale's Litecoin Trust to an ETF and list it on its platform.

"This prospectus has been prepared on the basis that the 19b-4 Application has been approved by the SEC, or the SEC has otherwise approved generic listing standards which would permit the listing of the Trust's shares on NYSE Arca," Grayscale stated in its Litecoin application.

Notably, none of the 19b-4 applications have been approved by the SEC, according to the statements.

Grayscale noted that it filed its Bitcoin Cash ETF under the proposed Generic Listing Standards, which still await SEC approval. The move follows its filing for the Chainlink ETF on Monday, as both aim to qualify for listing on NYSE Arca without requiring a separate 19b-4 application.

Grayscale's Bitcoin Trust became the first US spot Bitcoin ETF listed on the NYSE Arca in 2024, after overcoming several legal challenges from regulators. With applications for the conversion of several of its altcoin Trusts, the firm is seeking to achieve a similar result quickly with these products.

The firm's latest submissions come as issuers anticipate SEC approval for well over 80 altcoin ETF filings. Bloomberg analysts James Seyffart and Eric Balchunas previously highlighted that applications for Litecoin ETFs have some of the highest approval odds among submissions for altcoin ETFs.