Grayscale files to convert multi-crypto fund into ETF

CoinMarketCap10-16

Crypto asset manager Grayscale has filed with the United States Securities and Exchange Commission to convert its $520 million fund that tracks multiple cryptocurrencies into an exchange-traded fund (...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGrayscale files to convert multi-crypto fund into ETF\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-16 09:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://coinmarketcap.com/community/articles/670f182c0860323904941a57/><strong>CoinMarketCap</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Crypto asset manager Grayscale has filed with the United States Securities and Exchange Commission to convert its $520 million fund that tracks multiple cryptocurrencies into an exchange-traded fund (...</p>\n\n<a href=\"https://coinmarketcap.com/community/articles/670f182c0860323904941a57/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ETH","symbol_name":"Grayscale Ethereum Mini Trust","start_time":0,"source_url":"https://coinmarketcap.com/community/articles/670f182c0860323904941a57/","article_id":"2475662980","we_media_id":null,"thumbnails":["https://academy-public.coinmarketcap.com/srd-optimized-uploads/a8624909d88d47a494f7813ca62dbc9f.jpeg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2475662980","pubTimestamp":1729042473,"sourceInfo":{"source_id":"coinmarketcap_highlight","name":"CoinMarketCap"},"weMediaInfo":null,"summary":"Crypto asset manager Grayscale has filed with the United States Securities and Exchange Commission to convert its $520 million fund that tracks multiple cryptocurrencies into an exchange-traded fund .The New York Stock Exchange , on Grayscale’s behalf, requested the conversion in an Oct. 14 19b-4 filing — a form that asks the SECto alter rules to allow the listing of a new ETF.Grayscale’s Digital Large Cap Fund manages just over $524 million in assets and is weighted with a 76% allocation to Bitcoin , followed by 18% to Ether , and the remainder is split between Solana , XRP , and Avalanche .In an accompanying 8-K form, Grayscale notified its investors that the fund reflects the rule and listing changes proposed by the NYSE. A conversion to a spot ETF allows investors to more easily buy and sell shares in a fund.Grayscale has requested that its GLDC fund be converted to an ETF. Source: SEC. Grayscale’s latest filing comes following two major conversions earlier this year, with the SEC ","collect":0,"end_time":0,"defaultTopTitle":"coinmarketcap.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ETH":"Grayscale Ethereum Mini Trust","BTC":"Grayscale Bitcoin Mini Trust","BK4550":"红杉资本持仓","BK4129":"建筑与工程","BK4519":"光伏太阳能","BK4588":"碎股","GBTC":"Grayscale Bitcoin Trust","FDN":"First Trust Dow Jones Internet I","BK4585":"ETF&股票定投概念","SOL":"EMEREN GROUP","BK4594":"比特币ETF概念","NYSE":"纽交所","ETHE":"Grayscale Ethereum Trust"},"translate_title":"灰度文件将多种加密货币基金转换为ETF","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SOL":1,"NYSE":1,"GBTC":1,"FDN":1,"ETHE":1,"ETH":1,"BTC":1},"content_text":"Crypto asset manager Grayscale has filed with the United States Securities and Exchange Commission to convert its $520 million fund that tracks multiple cryptocurrencies into an exchange-traded fund (ETF).\nThe New York Stock Exchange (NYSE), on Grayscale’s behalf, requested the conversion in an Oct. 14 19b-4 filing — a form that asks the SEC to alter rules to allow the listing of a new ETF. \nGrayscale’s Digital Large Cap Fund manages just over $524 million in assets and is weighted with a 76% allocation to Bitcoin (BTC), followed by 18% to Ether (ETH), and the remainder is split between Solana (SOL), XRP (XRP), and Avalanche (AVAX). \nIn an accompanying 8-K form, Grayscale notified its investors that the fund reflects the rule and listing changes proposed by the NYSE. A conversion to a spot ETF allows investors to more easily buy and sell shares in a fund. \n\n\nGrayscale has requested that its GLDC fund be converted to an ETF. Source: SEC\n\n\nGrayscale’s latest filing comes following two major conversions earlier this year, with the SEC approving the company’s requests to convert its Grayscale Bitcoin Trust (GBTC) and the Grayscale Ethereum Trust (ETHE) into ETFs.\nThe SEC had previously rejected all applications for spot crypto ETFs until an August court decision in favor of Grayscale saw the regulator change its tune. \nRelated: US jobs report signals fewer rate cuts, still bullish for BTC: Grayscale\nSpot ETFs hold the underlying assets on their books, as compared to trusts and other non-spot crypto funds that rely on futures contracts to track prices, which have added regulatory proceedings that made it more difficult for investors to buy and sell shares in the funds. \nFollowing the conversion of to ETFs, Grayscal;e investors began unloading their shares due to a drastic change in the discount to net asset value of the funds.\nSix months before GBTC was converted to an ETF, investors could buy shares in GBTC for a 44% discount compared to buying spot Bitcoin, per YCharts data. GBTC investors cashed out on this when the fund was converted and discrepancies in pricing became non-existent.\n\n\nGBTC’s discount to NAV evened out rapidly following the fund's conversion. Source: YCharts\n\n\nThe firm’s Bitcoin fund has seen $21 billion in outflows since its January conversion, while the Ethereum ETF has marked $3 billion in outflows since its conversion in July.\nOn Oct. 10, Grayscale added 35 altcoins, including Dogecoin (DOGE), Worldcoin (WLD), and Jupiter (JUP), to a list of crypto assets it put “under consideration” for potential future investment products. \nIt’s also been launching a new crypto fund roughly once every month, unveiling an Aave investment fund on Oct. 3, an XRP Trust on Sept. 12, and an Avalanche fund on Aug. 22. \nMagazine: What Solana’s critics get right… and what they get wrong","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2475662980"}