Grayscale asked the SEC for permission to convert its $524 million fund tracking multiple cryptocurrencies — including Bitcoin, Ether and Solana — into an ETF.
Crypto asset manager Grayscale has filed with the United States Securities and Exchange Commission to convert its $520 million fund that tracks multiple cryptocurrencies into an exchange-traded fund (ETF).
The New York Stock Exchange (NYSE), on Grayscale’s behalf, requested the conversion in an Oct. 14 19b-4 filing — a form that asks the SEC to alter rules to allow the listing of a new ETF.
Grayscale’s Digital Large Cap Fund manages just over $524 million in assets and is weighted with a 76% allocation to Bitcoin (BTC), followed by 18% to Ether (ETH), and the remainder is split between Solana (SOL), XRP (XRP), and Avalanche (AVAX).
