Grayscale Bitcoin Cash Trust (BCH) announced a significant corporate reorganization on January 1, 2025, which involved internal restructuring and the assignment of certain contracts related to its role as the sponsor of the Trust.
The Trust, which is organized under Delaware state law and previously known as Bitcoin Cash Investment Trust, is a subsidiary of Digital Currency Group, Inc.
The reorganization saw Grayscale Investments, LLC (GSI), the initial sponsor, merge into Grayscale Operating, LLC (GSO), with GSO emerging as the surviving entity. This change is not anticipated to affect the Trust's operations materially.
Concurrent with the merger, GSO transferred its responsibilities under the Sponsor Contracts to Grayscale Investments Sponsors, LLC (GSIS), a wholly owned direct subsidiary of GSO. These assignments were formalized through various agreements, including the Assignment and Assumption Agreement, the Coinbase (NASDAQ:COIN) Assignment Agreement, and the Foreside Assignment Agreement.
GSIS was officially admitted as an additional sponsor of the Trust following the merger. On January 3, 2025, GSO voluntarily began the process to withdraw as a sponsor, which will be completed after a 120-day notice period, leaving GSIS as the sole sponsor.
The news above is based on an SEC filing.
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