Grayscale Filing Drives Bitcoin Cash Price Up 3.6% in 37 Hours

Bitcoin Cash saw a roughly 3.6 percentage point price increase over the last 37 hours, largely driven by the filing of Grayscale's updated registration statement for its Bitcoin Cash Trust (BCHG) with the SEC.

The amended S-3/A registration statement renames the vehicle to 'Grayscale Bitcoin Cash Trust ETF' and specifies listing on NYSE Arca under the BCHG ticker. This development is seen as a step toward a U.S.-listed, exchange-traded product that holds BCH directly.

While approval for this ETF is not guaranteed, investors tend to price in increased future institutional accessibility, leading to a bullish sentiment around Bitcoin Cash.

The broader crypto market conditions also provided a mild tailwind for the price increase, with total crypto market cap up roughly 1.11% over the last 24 hours and altcoin market cap up about 0.48% over the past week.