Grayscale Files to Convert Crypto Fund into ETF

Reading Time: < 1 minute

Grayscale Investments has submitted an S-3 form to the US Securities and Exchange Commission to convert its Digital Large Cap Fund into an exchange-traded fund (ETF).

The April 1 filing aims to transition the fund from a private investment vehicle to a publicly traded product, expanding access for investors.

Currently, the Digital Large Cap Fund includes Bitcoin, Ethereum, XRP, Solana, and Cardano. Previously accessible only to accredited investors via private placements, its conversion into an ETF would offer retail investors exposure to a diversified digital asset portfolio.

Since its launch in 2018, the fund’s market price has surged by 478.83%, according to Grayscale.

The company notes that the fund represents approximately 75% of the digital asset market cap, excluding meme coins and stablecoins.