SEC approves conversion of Grayscale’s large-cap crypto fund into ETF — TradingView News
Asset manager Grayscale received approval from the US Securities and Exchange Commission (SEC) on Tuesday to convert its Digital Large-Cap Fund into an exchange-traded fund (ETF).
The fund consists of the five biggest cryptocurrencies by market capitalization featured in the CoinDesk Five Index.
Roughly 80.2% of the weighted fund is Bitcoin (BTC), followed by Ether (ETH) at 11.3%, while Solana (SOL) accounts for approximately 2.7% of the fund, XRP (XRP) commands over 4.8%, and Cardano’s ADA (ADA) has a weighting of 0.81% in the fund.
Investors have long capitalized on arbitrage opportunities for Grayscale’s crypto trusts, exploiting premiums or discounts to net asset value (NAV), the funds’ total assets minus liabilities, to lock in…
