Grayscale Investments filed an application with the U.S. SEC on Tuesday, seeking to convert its hybrid crypto fund containing Bitcoin, Ethereum, Solana, XRP and Avalanche into an ETF. The company has previously converted its Bitcoin and Ethereum funds into ETFs.
The official website shows that the product is called "Digital Large Cap Fund" (Grayscale Digital Large Cap Fund, code GDLC), which is currently traded over the counter with an AUM of US$524 million. The fund is mainly composed of BTC (nearly 75%) and ETH (about 19%), and the rest is composed of SOL, XRP and AVAX.
"This document reflects Grayscale's firm commitment to making it easier for all investors to access exposure to crypto asset classes," a Grayscale spokesperson said in an email. (The Block)