Grayscale Bitcoin Cash Trust (BCH) Files Q3 2024 10-Q

TL;DR

**BCH Trust 10-Q filed. Check holdings & performance for Q3 2024.**

AI Summary

Grayscale Bitcoin Cash Trust (BCH) filed its 10-Q for the period ending September 30, 2024. The filing details the trust's investments and financial position. Key dates include the filing date of November 1, 2024, and the reporting period from July 1, 2024, to September 30, 2024.

Why It Matters

This filing provides investors with an update on the Grayscale Bitcoin Cash Trust's performance and holdings, crucial for understanding the trust's value and strategy.

Risk Assessment

Risk Level: medium — The trust's value is directly tied to the volatile price of Bitcoin Cash, exposing it to significant market risk.

Key Numbers

• N/A — Net Asset Value (Specific NAV figures are not provided in the header data.)
• N/A — Total Assets (Specific total asset figures are not provided in the header data.)
• N/A — Total Liabilities (Specific total liability figures are not provided in the header data.)

Key Players & Entities

• Grayscale Bitcoin Cash Trust (BCH) (company) — Filer of the 10-Q
• Bitcoin Cash (company) — Underlying asset of the trust
• 2024-09-30 (date) — End of the reporting period
• 2024-11-01 (date) — Filing date of the 10-Q
• Digital Currency Group Inc (company) — Related entity

FAQ

Filing Documents

• bchg-20240930.htm (10-Q) — 783KB
• bchg-ex31_1.htm (EX-31.1) — 21KB
• bchg-ex31_2.htm (EX-31.2) — 22KB
• bchg-ex32_1.htm (EX-32.1) — 7KB
• bchg-ex32_2.htm (EX-32.2) — 7KB
• img197376339_0.jpg (GRAPHIC) — 369KB
• img197376339_1.jpg (GRAPHIC) — 255KB
• img197376339_2.jpg (GRAPHIC) — 250KB
• 0000950170-24-120122.txt ( ) — 4785KB
• bchg-20240930.xsd (EX-101.SCH) — 311KB
• bchg-20240930_htm.xml (XML) — 379KB

Forward-Looking Statements

Forward-Looking Statements 3 Industry and Market Data 3

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 4 4 Schedules of Investment at September 30, 2024 and June 30, 2024 5 6 7 Notes to the Unaudited Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 23 Item 4.

Controls and Procedures

Controls and Procedures 23

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 24 Item 1A.

Risk Factors

Risk Factors 24 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 3. Defaults Upon Senior Securities 27 Item 4. Mine Safety Disclosures 27 Item 5. Other Information 27 Item 6. Exhibits 28 GLOSSARY OF DEFINED TERMS 29

SIGNATURES

SIGNATURES 33 2 Forw ard-Looking Statements This Quarterly Report on Form 10-Q contains "forward-looking statements" with respect to the financial conditions, results of operations, plans, objectives, future performance and business of Grayscale Bitcoin Cash Trust (BCH) (the "Trust"). Statements preceded by, followed by or that include words such as "may," "might," "will," "should," "expect," "plan," "anticipate," "believe," "estimate," "predict," "potential" or "continue," the negative of these terms and other similar expressions are intended to identify some of the forward-looking statements. All statements (other than statements of historical fact) included in this Quarterly Report that address activities, events or developments that will or may occur in the future, including such matters as changes in market prices and conditions, the Trust's operations, the plans of Grayscale Investments, LLC (the "Sponsor") and references to the Trust's future success and other similar matters are forward-looking statements. These statements are only predictions. Actual events or results may differ materially from such statements. These statements are based upon certain assumptions and analyses the Sponsor made based on its perception of historical trends, current conditions and expected future developments, as well as other factors appropriate in the circumstances. Whether or not actual results and developments will conform to the Sponsor's expectations and predictions, however, is subject to a number of risks and uncertainties, including, but not limited to, those described in "Part I, Item 1A. Risk Factors" of our Annual Report on Form 10-K and in "Part II, Item 1A. Risk Factors" herein. Forward-looking statements are made based on the Sponsor's beliefs, estimates and opinions on the date the statements are made and neither the Trust nor the Sponsor is under a duty or undertakes an obligation to update forward-looking statements if these beliefs, estimates and opini

– FINANCI AL INFORMATION

PART I – FINANCI AL INFORMATION:

Financial St atements (Unaudited)

Item 1. Financial St atements (Unaudited) GRAYSCALE BITCOIN CASH TRUST (BCH) ( Amounts in thousands, except Share and per Share amounts) September 30, 2024 June 30, 2024 Assets: Investment in BCH, at fair value (cost $ 141,270 and $ 133,541 as of September 30, 2024 and June 30, 2024, respectively) $ 124,738 $ 135,014 Total assets $ 124,738 $ 135,014 Liabilities: Sponsor's Fee payable, related party $ - $ - Total liabilities - - Net assets $ 124,738 $ 135,014 Shares issued and outstanding, no par value (unlimited Shares authorized) 43,140,000 40,366,000 Principal market net asset value per Share $ 2.89 $ 3.34 See accompanying notes to the unaudited financial statements. 4 GRAYSCALE BITCOIN CASH TRUST (BCH) SCHEDULES OF INVESTMENT (UNAUDITED) ( Amounts in thousands, except quantity of BCH and percentages) September 30, 2024 Quantity of BCH Cost Fair Value % of Net Assets Investment in BCH 365,898.27001713 $ 141,270 $ 124,738 100 % Net assets $ 141,270 $ 124,738 100 % June 30, 2024 Quantity of BCH Cost Fair Value % of Net Assets Investment in BCH 344,528.53494921 $ 133,541 $ 135,014 100 % Net assets $ 133,541 $ 135,014 100 % See accompanying notes to the unaudited financial statements. 5 GRAYSCALE BITCOIN CASH TRUST (BCH) ( Amounts in thousands) Three Months Ended September 30, 2024 2023 Investment income: Investment income $ - $ - Expenses: Sponsor's Fee, related party 782 433 Net investment loss ( 782 ) ( 433 ) Net realized and unrealized loss from: Net realized loss on investment in BCH ( 86 ) ( 281 ) Net change in unrealized depreciation on investment in BCH ( 18,005 ) ( 19,915 ) Net realized and unrealized loss on investment ( 18,091 ) ( 20,

View Full Filing

View this 10-Q filing on SEC EDGAR