Grayscale’s investments were announced at May 9th It has formed a new entity called Grayscale Funds Trust and has applied for three new cryptocurrency investment funds.
Grayscale proposes three new ETFs
Grayscale Funds will act as a legal trust structure in Delaware that allows the company to manage its legacy products while pursuing exchange-traded funds (ETFs).
In addition to creating that new trust, Grayscale has provided registration data for three new ETFs directly or indirectly linked to cryptocurrency.
The first is the Grayscale Ethereum Futures ETF, which will derive value from exposure to Ethereum Futures. The second is the Grayscale Privacy ETF; This fund will track the Indxx Privacy Index, which itself includes the Grayscale Index zcash trust.
The third fund is the Grayscale Global Bitcoin Composite ETF, which will leverage exchange-traded products and investment vehicles as well as securities from bitcoin mining companies. The filing says the fund will not invest directly in digital assets.
Grayscale emphasized that although it has filed regulatory requests, the above funds are not yet effective and cannot be bought or sold before they take effect.
Grayscale continues to pursue the ETF
Grayscale is one of the leading investment companies that offers institutional crypto investment vehicles. The company’s Grayscale Bitcoin Trust (GBTC) has a market capitalization of $10.84 billion, the company offers Many other cryptocurrency funds.
However, GBTC redemptions were halted in 2014 after a conflict with the US Securities and Exchange Commission (SEC). GBTC recently traded at a discount.
Grayscale has also had difficulty obtaining permission from the SEC allowing it to convert GBTC into a spot ETF. greyscale He went to court on this issue but did not succeed in launching an ETF immediately despite its efforts.
No other company has successfully launched a Bitcoin spot ETF yet.
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