As of now, with the official bottom sheet component from the Android design library implemented the top edge doesn't show a shadow. But for what I've seen in various mockups and in the Material Design specs, the bottom sheet include a discrete shadow of some sort.
I think the shadow would help distant the bottom sheet from the main layout, especially if there's a peek value set and/or the bottom sheet is always visible. Otherwise it just will blend together with the main layout and its items.
I've tried both ViewCompat.setElevation(bottomSheet, 5);
and setting android:elevation="5dp"
to the view in the XML, without success.