Grayscale has submitted a request to the US Securities and Exchange Commission (SEC) to transform its Digital Large Cap Fund into an ETF
.The fund holds a diversified portfolio of prominent digital assets including Bitcoin, Ethereum, Solana, XRP, and AVAX, with these assets making up nearly 94% of its assets
.
Grayscale’s latest filing follows the previous conversion of the Grayscale Bitcoin Trust and Ethereum Trust into spot ETFs earlier this year
.
The Digital Large Cap Fund, which is currently managing around $524 million in assets, has approximately 75% allocated to Bitcoin and 19% to Ethereum
.
The remainder of the portfolio is made up of smaller allocations to Solana, XRP, and AVAX
.
The SEC’s recent approval of spot ETFs for Bitcoin and Ether has been a major turning point, ending a long history of rejected applications for such funds
.
This shift has fueled a wave of new filings from asset managers seeking to introduce ETFs for smaller and riskier tokens like Solana, XRP, and Litecoin
.
Grayscale’s potential fifth ETF launch this year highlights the firm’s strategy to diversify its offerings and cater to investor demand for a broader range of digital assets.
