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Grayscale is seeking to transition its Digital Large Cap Fund into an ETF, an initiative highlighted in a recent Wall Street Journal report. The fund, which manages around $524 million, is predominantly invested in Bitcoin (75%) and Ethereum (19%), with additional stakes in Solana, XRP, and AVAX. This move aligns with Grayscale’s successful conversion of its Bitcoin and Ethereum trusts into spot ETFs earlier this year.
The SEC’s recent approvals of spot ETFs for Bitcoin and Ether marked a pivotal shift, ending a long-standing pattern of rejections. This regulatory transformation, spurred by a court ruling favoring Grayscale, has ignited a surge in asset prices and motivated numerous filings for new ETFs encompassing a range of cryptocurrencies.
Grayscale’s latest filing not only underscores its ambition to broaden its ETF portfolio but also reflects a growing investor appetite for diverse digital assets. If approved, this would be Grayscale’s fifth ETF launch in the year, reinforcing its strategy to meet the expanding market demand for varied crypto investments.
