Grayscale is aiming to launch a new multi-asset ETF that would hold spot Bitcoin, Ether, Solana, and XRP by converting its existing holding, GDLC. With over 90% invested in Bitcoin and Ether, which are highly liquid coins, Grayscale hopes this focus on higher liquidity assets will increase the likelihood of SEC approval for the ETF conversion. If successful, Grayscale would become a strong player in the ETF market, with the potential to offer the first combined crypto ETF that includes a basket of digital currencies. The news has led to a decline in the discount on Grayscale's funds, as some investors see potential approval for the ETF. However, the future of the proposed ETF is uncertain due to the ambiguous legal status of digital assets.



Other News from Today