other material
confidence high
sentiment neutral
materiality 0.55
Grayscale Bitcoin Cash Trust signs new Coinbase Prime Broker Agreement; effective upon NYSE Arca uplisting
Grayscale Bitcoin Cash Trust (BCH)
- New Prime Broker Agreement with Coinbase entities signed Oct 3, 2025; effective when trust shares begin trading on NYSE Arca as ETP.
- Trust's BCH held in cold-storage Vault Balance and hot-storage Settlement Balance; Custodian liability capped at $100M per cold storage address.
- Custodial and prime broker services include depository, withdrawal, and transfer; liability only for negligence, fraud, or willful misconduct, capped at $5M or fees/assets.
- Previous custodian agreement (with Coinbase Custody) terminated as of the later of the new agreement's effective date.
- Uplisting as exchange-traded product pending; Prime Broker Agreement supports conversion and provides updated custody terms.