Grayscale Seeks SEC Approval to Convert Large Cap Fund into Spot ETF

Oct 15, 2024, 09:37 PM

Grayscale, a major asset manager with over $60 billion in assets under management, has filed with the SEC to convert its Digital Large Cap Fund into a spot exchange-traded fund (ETF). The fund includes prominent cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Avalanche (AVAX). This move is seen as an effort to attract more institutional investors by providing a regulated investment vehicle. Additionally, Grayscale is reviewing 35 altcoins, including Helium (HNT), Optimism, SUI, Aptos (APT), Dogecoin (DOGE), and Cosmos (ATOM), for potential future investment products. The review also extends to Web3 gaming and AI tokens.