Grayscale, a prominent asset manager, has recently introduced two new investment trusts, expanding its offerings to accredited investors seeking exposure to Bitcoin layer-2 networks such as Stacks and NEAR Protocol. These additions bolster Grayscale's existing suite of crypto-focused trusts, which include prominent assets like Solana (SOL) and Chainlink (LINK).
Grayscale's Commitment to Crypto Diversity Echoed Amid Stacks' Institutional Appeal
Rayhaneh Sharif-Askary, Grayscale's Head of Product and Research, reiterated the firm's dedication to meeting investor demand for diversified crypto asset exposure. "With continued demand for diversified crypto asset exposure, Grayscale remains committed to launching new products that enable investors to access emerging and evolving parts of the crypto ecosystem," she stated, as reported by Decrypt.
Stacks, functioning as a Bitcoin Layer 2 network, introduces smart contract capabilities to Bitcoin, fostering the development of decentralized finance applications. Its recent Nakamoto upgrade has propelled its popularity, particularly with protocols Ordinals and Runes, witnessing increased traction.
Kyle Ellicott, Stacks' Investor Relations Lead, highlighted the growing institutional interest within the ecosystem, emphasizing the narrowing gap in unlocking Bitcoin liquidity and enhancing its utility.
NEAR Protocol Ventures into AI Research as Grayscale Eyes ETF Expansion
NEAR Protocol, established in 2020, operates as a high-speed blockchain tailored for decentralized cloud computing. Notably, the project has recently announced the establishment of a dedicated research and development lab focusing on artificial intelligence.
Grayscale positions its private placements as the initial phase in product development, with the ultimate aim of transitioning them into exchange-traded funds (ETFs). While the Grayscale Bitcoin Trust (GBTC) is presently the sole product to attain ETF status, the organization is actively pursuing SEC approval to convert its Ethereum Trust into an ETF.
Grayscale's Ethereum ETF Amendments: Navigating Regulatory Compliance for Historic Approval
Grayscale recently filed amendments to its proposed Spot Ethereum ETF application, aligning with the SEC's guidelines. The removal of the "staking" clause underscores the company's compliance efforts and adaptability to regulatory dynamics.
As the SEC is expected to rule on Spot Ethereum ETF applications imminently, the crypto community anticipates a historic milestone, with Grayscale meticulously refining its application to mitigate potential pitfalls. Continuous updates to the filing indicate ongoing dialogue with regulators, incorporating feedback to facilitate eventual approval.