Grayscale files to convert Digital Large Cap Fund into ETF

Grayscale Investments has filed a S-3 form to the American Commission for Securities and Exchange to convert its digital capitalization fund to a negotiated stock market fund.

April 1 deposit seeks to transform the private investment vehicle into a fellowship on the stock market, expanding access to investors.

The large capitalization fund is currently made up of Bitcoin (BTC), Ethereum (Ethn), XRP (Xrp), Solana (GROUND), and Cardano (ADA). Previously available only for accredited investors through private investments, the conversion of the fund to ETF would allow retail investors an exposure to a diversified basket of digital assets.

Since its launch in 2018, the fund price of the fund has jumped 478.83%, according to Grayscale.

The Company said the fund covers around 75% of the market capitalization of digital assets, excluding parts even and stable.

Crypto going the dominant current

If it is approved, this decision would line up with Grayscale’s strategy to integrate crypto into traditional investments. The deposit follows a broader trend in the Crypto ETF approvals, including Spot Bitcoin ETF in January 2024 and Etherum ETFE in May.

The latest Grayscale application follows its distinct efforts launch An avalanche (Avax) ETF, for which the NASDAQ recently filed a 19B-4 form to the SEC.

The company too recently deposited For a hedera (Hbar) ETF, signaling its continuous thrust for the expansion of the Crypto ETF.