Grayscale Investments has begun accepting cryptocurrency holdings directly as payment for shares in 10 of its exchange-traded products, a mechanism known as in-kind subscription that lets investors skip the step of selling coins for cash before buying into a fund.

The New York-based asset manager, which describes itself as the largest digital asset investment platform by assets under management as of Sept. 30, 2026, said the feature is open to eligible investors. Primary-market orders must be placed through authorized participants or the institutions that serve as their intermediaries.

Under the arrangement, an investor contributes qualifying coins and receives shares of the corresponding Grayscale product. The company said the approach…