NYSE Arca Seeks SEC Approval to List Grayscale’s Diverse Crypto ETF

BE[IN]CRYPTO2024-10-31

NYSE Arca seeks SEC approval to list Grayscale's crypto ETF with diversified altcoin exposure. Grayscale aims to convert its Digital Large Cap Fund, currently worth $565 million, into an ETF. SEC’s ...

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Recently, Grayscale expanded its scope by adding Jupiter  to a list of 35 altcoins under evaluation for potential investment. This inclusion has fueled a 17% rally for JUP over the past two weeks.Today, the combined net assets of all spot Bitcoin ETFs reached a new peak at $72.55 billion, representing 5.07% of Bitcoin’s overall market valu","collect":0,"end_time":0,"defaultTopTitle":"beincrypto.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"COIN":"Coinbase Global, Inc.","FDN":"First Trust Dow Jones Internet I","BK4550":"红杉资本持仓","GDLC":"Grayscale Digital Large Cap Fund LLC","NEAR":"iShares Short Duration Bond Active ETF","TAO":"中国房地产指数ETF-Guggenheim","BK4585":"ETF&股票定投概念","BK4594":"比特币ETF概念","BK4588":"碎股","NYSE":"纽交所"},"translate_title":"纽约证券交易所Arca寻求SEC批准上市Grayscale的多元化加密货币ETF","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TAO":1,"NYSE":1,"NEAR":1,"GDLC":1,"FDN":1,"COIN":0.9},"content_text":"NYSE Arca seeks SEC approval to list Grayscale's crypto ETF with diversified altcoin exposure.\nGrayscale aims to convert its Digital Large Cap Fund, currently worth $565 million, into an ETF.\nSEC’s approval would expand institutional access to assets like Bitcoin, Ethereum, Solana, and XRP.\n\nSecurity Exchange NYSE Arca has formally requested permission from the SEC to list a Grayscale ETF focused on a diversified range of spot cryptocurrencies, as per a filing dated October 29.\nThe proposed ETF would transform Grayscale’s existing Digital Large Cap Fund into an exchange-traded product. \nGrayscale’s Newly Approved ETF Will Allow Investors to Access Altcoins\nEstablished in 2018, this fund comprises various cryptocurrencies, including Bitcoin, Ethereum, Solana, Avalanche, and XRP. At present, the fund manages around $565 million in assets.\nRead More: What Is a Bitcoin ETF?\nGrayscale submitted its initial request to convert the fund into an ETF on October 16, just days before NYSE Arca’s own filing. Today, the SEC has officially acknowledged Grayscale’s application for this conversion.\n\n“SEC has formally acknowledged filing to convert Grayscale Digital Large Cap Fund (GDLC) into an ETF…GDLC holds approx 77% btc, 17% eth, & remainder in sol, xrp, & avax. SEC now soliciting public comments & decision clock starts ticking,” ETF expert Nate Geraci wrote in an X (formerly Twitter) post. \n\nRecently, Grayscale expanded its scope by adding Jupiter (JUP) to a list of 35 altcoins under evaluation for potential investment. This inclusion has fueled a 17% rally for JUP over the past two weeks.\nIn addition, Grayscale launched its Decentralized AI Fund to selected investors, previously accessible only through private placement. \nThis fund provides targeted exposure to AI-driven blockchain projects, featuring altcoins like Near Protocol (NEAR), Bittensor (TAO), Render (RNDR), and Filecoin (FIL).\nGrayscale has been frequently exploring avenues to address institutional interest in crypto. In June, the firm announced its intent to establish the first US-based XRP trust, potentially paving the way for an ETF. \nRead More: XRP ETF Explained – What It Is and How It Works\nCrypto ETFs have shown notable influence on the market this year. Bitcoin ETFs have recorded over $4 billion in net inflows this month. This surge has driven Bitcoin’s price to over $73,000 earlier this week, its highest since March.\nToday, the combined net assets of all spot Bitcoin ETFs reached a new peak at $72.55 billion, representing 5.07% of Bitcoin’s overall market value. This milestone marks the first time spot Bitcoin ETFs have captured more than 5% of the token’s total market cap.\n\n\n\n\nTop crypto projects in the US | October 2024\n\n\n\nCoinbase\nExplore\n                      \n\n\n\n\n\nCoinrule\nExplore\n                      \n\n\n\n\n\n3Commas\nExplore\n                      \n\n\n\n\n\nUphold\nExplore\n                      \n\n\n\n\n\nChain GPT\nExplore\n                      \n\n\n\n\n\n\n\n\nTop crypto projects in the US | October 2024\n\n\nCoinbase\n\n\n\n\n\n\n\n\nCoinrule\n\n\n\n\n\n\n\n\n3Commas\n\n\n\n\n\n\n\n\nUphold\n\n\n\n\n\n\n\n\nChain GPT","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":"policyRegulatory","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":"4.30.2","shortVersion":"4.30.2","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/2479764547"}