Grayscale Bitcoin Cash Trust Files 8-K on Unregistered Sales

TL;DR

Grayscale BCH filed an 8-K for unregistered sales - could mean new shares.

AI Summary

On June 27, 2024, Grayscale Bitcoin Cash Trust (BCH) filed an 8-K report detailing unregistered sales of equity securities. The filing indicates a change in the reporting entity's status or operations, with the report being submitted on July 2, 2024. Specific details regarding the nature and volume of these unregistered sales are not provided in the excerpt.

Why It Matters

This filing signals potential new equity issuances by Grayscale Bitcoin Cash Trust, which could impact the trust's share structure and market dynamics.

Risk Assessment

Risk Level: medium — Unregistered sales can sometimes indicate regulatory scrutiny or complex financial maneuvers that carry inherent risks.

Key Numbers

• 000-56308 — SEC File Number (Identifies the specific filing with the SEC.)
• 82-6867376 — IRS Employer Identification No. (Tax identification number for the registrant.)

Key Players & Entities

• Grayscale Bitcoin Cash Trust (BCH) (company) — Registrant
• June 27, 2024 (date) — Date of earliest event reported
• July 2, 2024 (date) — Date of report filing
• 212 668-1427 (phone_number) — Registrant's Telephone Number

FAQ

Key Financial Figures

• $1,741,714 — gate of 4,533.49755324 BCH representing $1,741,714. Grayscale Securities, LLC ("Grayscale

Filing Documents

• bchg-20240627.htm (8-K) — 38KB
• 0000950170-24-080442.txt ( ) — 155KB
• bchg-20240627.xsd (EX-101.SCH) — 28KB
• bchg-20240627_htm.xml (XML) — 5KB

02. Unregistered Sales of Equity Securities

Item 3.02. Unregistered Sales of Equity Securities. Since the sales reported on the most recently filed Current Report on Form 8-K by Grayscale Bitcoin Cash Trust (BCH) (the "Trust"), the Trust issued 530,900 Shares at varying prices determined by reference to its NAV per Share to selected "accredited investors," within the meaning of Rule 501 of Regulation D under the Securities Act of 1933, as amended (the "Securities Act"), in private placement transactions exempt from the registration requirements of the Securities Act pursuant to Rule 506(c) thereunder for an aggregate of 4,533.49755324 BCH representing $1,741,714. Grayscale Securities, LLC ("Grayscale Securities") acted as the Authorized Participant with respect to these distributions. As a result, there are 40,366,000 Shares issued and outstanding as of July 2, 2024. Because Shares have been, and continue to be, created and issued on a periodic basis, a "distribution," as such term is used in the Securities Act, may be occurring from time to time. As a result, Grayscale Securities, as Authorized Participant facilitating the creation of Shares and as distributor and marketer, may be deemed an "underwriter" under Section 2(a)(11) of the Securities Act. No underwriting discounts or commissions were paid to Grayscale Securities with respect to such sales.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Grayscale Investments, LLC as Sponsor of Grayscale Bitcoin Cash Trust (BCH) Date: July 2, 2024 By: /s/ Edward McGee Edward McGee Chief Financial Officer* * The Registrant is a trust and the identified person signing this report is signing in their capacity as an authorized officer of Grayscale Investments, LLC, the Sponsor of the Registrant.

View Full Filing

View this 8-K filing on SEC EDGAR