Grayscale Bitcoin Cash Trust

Grayscale Bitcoin Cash Trust (BCH) is a Delaware Statutory Trust formed on January 26, 2018, to hold Bitcoin Cash ("BCH"). Bitcoin Cash is an alternative software implementation of Bitcoin, created in 2017 through a hard fork by a group of Bitcoin miners. While similar to Bitcoin, key differences exist between the Bitcoin Cash Network and the Bitcoin Network. The fundamental difference is the maximum block size, with Bitcoin Cash using a 32MB block size compared to Bitcoin's 1MB. Both networks employ the SHA-256 algorithm, which is preferred for parallel processing and easily used to build application-specific integrated circuits (ASICs) for efficient mining. Bitcoin Cash blocks are generated approximately every ten minutes, similar to Bitcoin's block production rate. Consequently, Bitcoin Cash halvings occur approximately every four years, every 210,000 blocks, mirroring Bitcoin. The Bitcoin Cash mining difficulty is less than one one-hundredth of Bitcoin's. Both Bitcoin Cash and Bitcoin have a maximum supply of 21 million coins. As of June 30, 2025, Bitcoin Cash had a current circulating supply of 19.9 million coins. On the same date, the 24-hour trading volume for Bitcoin Cash was approximately $192.4 million, and its aggregate market value was approximately $10.1 billion.