Grayscale files to convert mixed crypto fund with bitcoin, ether and solana into ETF
Quick Take Grayscale Investments has filed to convert its mixed-crypto fund containing bitcoin, ether, solana, XRP and AVAX into an ETF.
Grayscale Investments filed a request on Tuesday with the U.S. Securities and Exchange Commission to convert its mixed-crypto fund containing popular tokens bitcoin, ether, Solana, XRP and Avalanche into an exchange-traded fund.
The firm has previously converted both Bitcoin and Ethereum funds into ETFs.
The Grayscale product, called its Digital Large Cap Fund, currently trades over the counter and has assets under management of $524 million, according to the firm's website . The fund is composed of primarily bitcoin, which makes up nearly 75%, and Ethereum, which comprises about 19%. The rest of the fund is made up of Solana, XRP and AVAX, according to a company document .
Grayscale's converted spot bitcoin ETF began trading in January and has an AUM of about $14 billion, according to The Block Data Dashboard .
In recent weeks, both Bitwise and Canary Capital filed for permission to list spot XRP exchange-traded funds. A spot XRP ETF has yet to be approved by the SEC, and if it is, it could face challenges.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
US Senate Republicans pick pro-crypto John Thune as their next leader
Share link:In this post: Senate Republicans chose pro-crypto John Thune as their new leader, replacing Mitch McConnell after 18 years. Thune’s pro-free trade stance puts him at odds with Trump, especially on tariffs, which he warned could lead to inflation. Known for his support of crypto legislation, Thune co-sponsored the Digital Commodities Consumer Protection Act to bring clear regulation to the industry.
BlackRock expands BUIDL with cross-chain integration to spread investment opportunities
Share link:In this post: BlackRock announced the launch of its BUIDL across multiple blockchains on November 13. The tokenized BlackRock USD Institutional Digital Liquid Fund will expand to Aptos, Optimism, Avax, OxPolygon, and Arbitrum. BUIDL was first launched on Ethereum in March of this year, and this initiative represents an evolutionary step in tokenization.
Polymarket CEO Shayne Coplan had phone, electronics seized by the FBI
Share link:In this post: The FBI raided the home of Polymarket’s CEO Shayne Coplan, seizing a phone and electronics. The raid was considered a form of political messaging, despite Polymarket’s transparent nature and self-balancing market that cannot be manipulated. Polymarket continues to function, though with only a fraction of its open interest and daily users.
Liberland launches Space Program to drive technological innovation and global collaboration
Share link:In this post: The Free Republic of Liberland launches its space program. The country wants to pioneer technological advancement and global collaboration. The micronation is creating an open platform where nations and private entities can come together, work freely, and drive progress without the constraints of bureaucracy. The space program seeks to accelerate the development of decentralized, pro-freedom solutions in the space industry.
Trending news
MoreCrypto prices
More
