Grayscale Files SEC Application to Convert Multi-Crypto Fund Into ETF

Crypto asset manager Grayscale has filed with the United States Securities and Exchange Commission (SEC) to convert its $520 million multi-cryptocurrency fund into an exchange-traded fund (ETF). On October 14, the New York Stock Exchange (NYSE), on Grayscale’s behalf, submitted a 19b-4 form to the SEC, requesting approval to convert Grayscale’s Digital Large Cap Fund into an ETF. This form asks the SEC to alter its rules to allow the listing of a new ETF. Grayscale’s Digital Large Cap Fund manages over $524 million in assets. It is heavily weighted toward Bitcoin (76%), followed by Ether (18%), with the remaining

Source: CryptoIntelligence