Grayscale Files for Crypto Index ETF Approval
Grayscale has requested approval from the U.S. Securities and Exchange Commission to convert a fund that tracks multiple cryptocurrencies into an exchange-traded fund.
The crypto manager’s Digital Large Cap fund holds over $524 million in assets, with more than three-quarters invested in bitcoin. Roughly 18% of the fund is allocated to Ether, while the remainder is divided among Solana, XRP, and Avalanche. While bitcoin and Ether ETFs have been approved by the SEC, this would be the first time other tokens are included in a spot ETF.
“Grayscale doesn’t have enough assets under management to significantly move markets on its own,” said Joel Hugentobler, Cryptocurrency Analyst at Javelin…
