Grayscale Bitcoin Cash Trust ETF Faces SEC Hurdles Amid Price Surge

Bitcoin Cash (BCH) price jumped by double digits on September 18, 2026, after Grayscale filed an application to convert its Bitcoin Cash Trust into an exchange-traded product. The filing with the US Securities and Exchange Commission (SEC) sparked a surge in BCH's price, which reached $261.47. The 24-hour gain was 11.9%, while over seven days it was 12.9%.

The Grayscale Bitcoin Cash Trust ETF will list on NYSE Arca, but the approval of Rule 8.201-E, the generic listing standards for commodity-based exchange-traded products, is still pending with the SEC. The filing states that the shares listed on OTCQX have historically traded at premiums and discounts to the value of BCH held, net of costs.

For investors in Germany, it's unlikely they'll be able to buy this product through a German broker, even if the US regulator agrees. This means alternative routes will be needed, which differ on tax and custody levels. The filing also highlights the risk of a premium or discount developing between the market price and net asset value (NAV) without redemption.

The trust's filing explicitly states that it cannot name a date for when the listing will take place and that the basis for the listing has not been approved so far.