Grayscale Fund Holding BTC, ETH, XRP, SOL And ADA Gets SEC Greenlight For ETF Conversion

Crypto asset manager Grayscale has received the greenlight from the US Securities and Exchange Commission (SEC) to convert its Digital Large-Cap Fund into an ETF (exchange-traded fund).

The fund comprises the 5 largest cryptos by market cap featured in the CoinDesk Five Index. This includes market leaders Bitcoin (BTC), Ethereum (ETH), as well as altcoins Solana (SOL), Ripple (XRP), Cardano (ADA).

The SEC approved the conversion a day before the deadline for the decision. In the past, the regulator has rejected Grayscale’s applications at the last minute.

Grayscale

Grayscale Fund Conversion Expected Given Heavy BTC And ETH Weighting

Around 80.2% of the converted fund’s weighting is BTC, while ETH, the largest altcoin by market cap, has a weighting of approximately 11.3%. 

XRP has the next biggest weighting of 4.8%, while SOL and ADA have weightings of 2.7% and 0.81%, respectively.

The SEC approving the conversion of Grayscale’s Digital Large Cap Fund was expected, according to Bloomberg ETF analyst James Seyffart. 

“Approval was our expectation,” he said in a July 1 X post, before adding, “The fund is over 90% Bitcoin and Ethereum.“

Bitwise, another crypto asset manager, is next in line to receive a decision from the SEC. 

The firm is looking to convert its Bitwise 10 Crypto Index Fund (BITW) into an ETF. This fund currently holds 79% in Bitcoin, with the rest of BITW’s holdings including the likes of ETH, XRP, SOL, ADA, Sui (SUI), Chainlink (LINK), Avalanche (AVAX), Litecoin (LTC) and Polkadot (DOT).

Wave Of New ETF Applications Predicted In The Second Half Of 2025

Grayscale’s approved conversion comes as asset managers rush to file ETF applications for smaller altcoins such as Tron (TRX), Dogecoin (DOGE), SUI, AVAX, and LTC.

In a June 30 X post, Seyffart said that he and his colleague, Eric Balchunas, “expect a wave of new ETFs in this second half of 2025.” 

The SEC has not yet approved ETFs that focus solely on altcoins.

Related Articles:

  • Sparkassen-Finanzgruppe To Offer Crypto Trading To Over 50M Customers By 2026
  • Nobitex Slowly Starts Service Restoration After $100M Hack
  • The Azuki NFT Team Launches An Anime Studio – Here’s More Details

Comments

Post a Comment

Popular posts from this blog

Dogecoin (DOGE) Price Analysis for Today, August 22 – DOGE Technical Analysis

Image
Dogecoin (DOGE) remains a significant player in the cryptocurrency market, boasting a market capitalization of approximately $15.50 billion and a 24-hour trading volume around $513.03 million. Ranked #9 on CoinMarketCap, DOGE is currently trading near $0.105, reflecting ongoing interest from the crypto community. DOGE Key Statistics Current Price: $0.105 Market Cap: $15.50 billion Trading Volume (24h): $513.03 million Circulating Supply: 145.64 billion DOGE Total Supply: 145.64 billion DOGE CoinMarketCap Ranking: #9 Over the past 30 days, Dogecoin has surged by 31.73% from its lowest point, and in the last 7 days, it has gained 8.84%. This upward movement highlights the growing confidence among investors and the overall positive momentum surrounding Dogecoin. DOGE/USD Market Analysis Key Levels: Resistance: $0.106, $0.109, $0.115 Support: $0.102, $0.095, $0.080 DOGEUSD -Daily Chart DOGE/USD is currently facing resistance at $0.106. The Bollinger Bands suggest ...
Read more

Altcoin Frenzy: $PEPE and $WIF Lead Market Surge

Image
The crypto market is brimming with positive projections as altcoins lead the surge with staggering numbers.  The Bitcoin price ascent has pushed altcoins to reach new highs. Leading altcoins, including Dogecoin , Shiba Inu, and Ethereum, are up 11.83%, 3.95%, and 1.28%, respectively.  In a new twist of events, meme coins have shown a remarkable price ascent as of late. With major crypto tokens surging ahead, meme coins have also shown renewed user interest driven by community sentiment.  Per the data shared by crypto analyst Borovik, PEPE has soared a whopping $385% this week. The surge is followed by WIF and $BONK, which are up by 385% and 112%, respectively.  Also Read: Top 5 Trending Meme Coins To Watch In 2024 Altcoins Surge: What’s Happening Source: BrightNode The crypto Twitter is basking in the bull run glory as major altcoins are marking their way up in their price trajectories. The increased capital inflow in the Bitcoin ETFs has forced ...
Read more

Nigel Farage claimed shady crypto ATM owner is ‘like a son to me’

Image
UK Reform Party leader Nigel Farage once described one of the party’s volunteers who is also a convicted fraudster and the alleged owner of an illegal crypto ATM, as being ‘like a son to me.’   According to the Byline Times, Farage made the comment about financier George Cottrell in 2020. Cottrell, also known as ‘Posh George,’ was caught in an FBI sting operation agreeing to launder £120,000 per month in drug funds. He allegedly threatened to report the fake drug traffickers to the police in an attempt to blackmail them out of 130 bitcoins, then worth $80,000.    Cottrell also faced allegations of owning an illegal crypto ATM machine at a private members club and casino in Montenegro. However, he denies having any financial ties to the casino and company records state a ​​Malaysian accountant from London owns the property.  He was subsequently sentenced to eight months on one count of wire fraud in 2017 and was issued another 20 charges including blackmail that were dropped ...
Read more