New Grayscale ETF Aims To Include Major Cryptos: Bitcoin, Ether, Solana, And XRP
Grayscale is converting its Grayscale Digital Large Cap Fund (GDLC) into an exchange-traded fund (ETF) to offer a diversified portfolio of major digital assets, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Avalanche (AVAX). The fund currently manages approximately $524 million, with 75% allocated to Bitcoin and 19% to Ethereum. The New York Stock Exchange has filed for SEC approval to list the ETF, following recent approvals for spot ETFs for Bitcoin and Ethereum. This conversion would mark Grayscale's fifth ETF launch this year. Grayscale has faced significant outflows from its Bitcoin and Ethereum funds but has attracted over $700 million in inflows through lower-fee versions. Other asset managers are also seeking to launch ETFs that include smaller tokens amid increased regulatory scrutiny. Bitcoin is currently trading at $67,750, reflecting an 11% weekly increase.
