GrayscalehasfiledarequestwiththeSECtoconvertitsDigitalLargeCapFundintoanETF,accordingtoareportbyTheWallStreetJournal
Thefundholdsamixedportfolioofpopulardigitalassets,includingBTC,ETH,SOL,XRP,andAVAX.
Grayscale’slatestfilingfollowsitspreviousconversionsoftheGrayscaleBitcoinTrustandEthereumTrustintospotETFsearlierthisyear.
TheDigitalLargeCapFundmanagesapproximately$524millioninassets,withnearly75%allocatedtoBitcoinand19%toEthereum.TheremainderoftheportfolioconsistsofsmallerallocationstoSolana,XRP,andAVAX,accordingtoacompanydocument.
TheSEC’sapprovalofspotETFsforBitcoinandEtherearlierthisyearmarkedamajorshift,endingalonghistoryofrejectedapplicationsforsuchfunds.ThischangecameafteracourtrulinginfavorofGrayscalecompelledtheregulatortoreconsideritsstance.
TheapprovalspurredarallyinBitcoinandEtherpricesandhasfueledawaveofnewfilingsfromassetmanagersseekingtointroduceETFsforsmallerandriskiertokenslikeSolana,XRP,andLitecoin.
Grayscale’spotentialfifthETFlaunchoftheyearhighlightsthefirm’sstrategytodiversifyitsofferingsandcatertoinvestordemandforabroaderrangeofdigitalassets.
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