Grayscale Bitcoin Cash Trust (BCH) Q2 2024 10-Q Filing

TL;DR

**BCH Trust 10-Q out:** Grayscale reports on its Bitcoin Cash holdings as of Dec 31, 2024. Check for updates.

AI Summary

Grayscale Bitcoin Cash Trust (BCH) filed its 10-Q for the period ending December 31, 2024. The filing details the trust's investment in Bitcoin Cash and its financial performance. Key dates include the filing date of February 5, 2025, and the reporting period from October 1, 2024, to December 31, 2024.

Why It Matters

This filing provides investors with an update on the Grayscale Bitcoin Cash Trust's holdings and financial status, crucial for understanding the trust's performance and the value of its underlying Bitcoin Cash assets.

Risk Assessment

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

Key Numbers

• 2024-12-31 — Reporting Period End Date (Indicates the snapshot date for the trust's assets and liabilities.)
• 2025-02-05 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Grayscale Bitcoin Cash Trust (BCH) (company) — Filer of the 10-Q
• Bitcoin Cash (company) — Underlying asset of the trust
• February 5, 2025 (date) — Filing date of the 10-Q
• December 31, 2024 (date) — End of the reporting period

FAQ

Filing Documents

• bchg-20241231.htm (10-Q) — 1097KB
• bchg-ex31_1.htm (EX-31.1) — 23KB
• bchg-ex31_2.htm (EX-31.2) — 24KB
• bchg-ex32_1.htm (EX-32.1) — 8KB
• bchg-ex32_2.htm (EX-32.2) — 8KB
• img197399404_0.jpg (GRAPHIC) — 479KB
• img197399404_1.jpg (GRAPHIC) — 411KB
• img197399404_2.jpg (GRAPHIC) — 397KB
• 0000950170-25-014185.txt ( ) — 6491KB
• bchg-20241231.xsd (EX-101.SCH) — 309KB
• bchg-20241231_htm.xml (XML) — 539KB

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 December 31, 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 24 Item 4.

Controls and Procedures

Controls and Procedures 24

– OTHER INFORMATION

PART II – OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 25 Item 1A.

Risk Factors

Risk Factors 25 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 3. Defaults Upon Senior Securities 26 Item 4. Mine Safety Disclosures 26 Item 5. Other Information 26 Item 6. Exhibits 27 GLOSSARY OF DEFINED TERMS 28

SIGNATURES

SIGNATURES 32 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 ("GSI"), the sponsor of the Trust before January 1, 2025, Grayscale Operating, LLC ("GSO"), the co-sponsor of the Trust from January 1, 2025 to May 3, 2025, and Grayscale Investments Sponsors, LLC ("GSIS"), the co-sponsor of the Trust from January 1, 2025 to May 3, 2025 and the sole remaining sponsor thereafter (each of GSI, GSO and GSIS, the "Sponsor", as the context may require, and GSO and GSIS, together, the "Co-Sponsors") 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, t

– 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) December 31, 2024 June 30, 2024 Assets: Investment in BCH, at fair value (cost $ 151,806 and $ 133,541 as of December 31, 2024 and June 30, 2024, respectively) $ 169,758 $ 135,014 Total assets $ 169,758 $ 135,014 Liabilities: Sponsor's Fee payable, related party $ - $ - Total liabilities - - Net assets $ 169,758 $ 135,014 Shares issued and outstanding, no par value (unlimited Shares authorized) 46,206,300 40,366,000 Principal market net asset value per Share $ 3.67 $ 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) December 31, 2024 Quantity of BCH Cost Fair Value % of Net Assets Investment in BCH 389,450.38959966 $ 151,806 $ 169,758 100 % Net assets $ 151,806 $ 169,758 100 % 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 December 31, Six Months Ended December 31, 2024 2023 2024 2023 Investment income: Investment income $ - $ - $ - $ - Expenses: Sponsor's Fee, related party 1,027 447 1,809 880 Net investment loss ( 1,027 ) ( 447 ) ( 1,809 ) ( 880 ) Net realized and unrealized gain (loss) from: Net realized gain (loss) on investment in BCH 108 ( 263 ) 22 ( 544 ) Net change in unrealized appreci

View Full Filing

View this 10-Q filing on SEC EDGAR