Grayscale just submitted an S-3 form to the SEC to convert its Digital Large Cap Fund into an ETF. This move is a key part of their plan to merge digital asset investing with traditional markets, opening up easier access for investors. It currently holds Bitcoin, Ethereum, Ripple, Solana, and Cardano.
The filing remains incomplete, including the specific management fee percentage, and is subject to revisions.
If approved, converting this fund into an ETF would allow everyday investors to access the crypto market. The filing states that the fund represents about 75% of the digital asset market’s market cap, excluding meme coins and stablecoins.
Just last week, Nasdaq also submitted a filing with the SEC to list and trade shares of Grayscale’s spot Avalanche ETF. This submission, filed via Form 19b-4, seeks approval to transform Grayscale’s Avalanche Trust into a publicly traded ETF.
Launched in August 2023, the Avalanche Trust was designed to give institutional investors a way to invest in AVAX, the native cryptocurrency of the Avalanche blockchain.
The goal behind converting the Avalanche Trust into an ETF is to make AVAX investments more accessible while introducing stronger regulations within traditional financial markets.
With this move, Grayscale is making it simpler for traditional investors to enter the world of digital assets, further cementing its role as a key player in the expanding crypto-finance landscape.
Also Read: BlackRock and Fidelity Will Join the XRP ETF Race: Nate Geraci
