Trusted
Breaking

SEC Approved Grayscale’s Digital Large Scale Fund ETF

1 min
Updated by Landon Manning
Join our Trading Community on Telegram

In Brief

  • Grayscale’s new ETF combines Bitcoin, Ethereum, Solana, XRP, and Cardano into one product, signaling SEC approval for altcoin ETFs.
  • Bitcoin (80.20%) and Ethereum (11.39%) dominate the ETF, with XRP, Solana, and Cardano making up a smaller portion of the fund.
  • This approval marks a breakthrough for regulatory acceptance of altcoin-focused ETFs in the U.S., setting a precedent for future offerings.
  • promo

The SEC just approved a new ETF application from Grayscale, combining Bitcoin, Ethereum, Solana, XRP, and Cardano into one product. This represents a major breakthrough for regulatory approval.

BTC and ETH, which already have available spot ETFs, make up more than 90% of the product’s composition. Still, this sets a few big precedents for the US ETF market.

Grayscale’s New ETF

Grayscale, a leader in the fight for a Bitcoin ETF, has been pushing at the boundaries in several ways. It’s filed several altcoin proposals and attempted to create a staking ETF in recent months alone. However, this new product is practically a new paradigm, tying five separate tokens into a single offering:

According to the SEC filing, Grayscale’s new ETF will heavily weigh towards Bitcoin; 80.20% of its value goes to it. ETH will represent 11.39% of the ETF’s value, XRP 4.82%, Solana 2.78%, and Cardano 0.81%. Technically, this will be the first US spot ETF that’s tied to these major altcoins, but BTC and Ethereum make up more than 90% of the fund. These assets already have spot ETFs.

Still, this is a major signal from the SEC. Several firms are attempting to create bundled products and altcoin ETFs alike, but Grayscale finally won the race. Hopefully, this indicates some similar approvals in the near future.

Best crypto platforms in Europe
Best crypto platforms in Europe
Best crypto platforms in Europe

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

image-10-1.png
Landon Manning
Landon Manning is a Journalist at BeInCrypto, covering a wide range of topics, including international regulation, blockchain technology, market analysis, and Bitcoin. Previously, Landon spent six years as a writer with Bitcoin Magazine and co-authored a Bitcoin maximalist newsletter with 30,000 subscribers. Landon holds a Bachelor of Arts in Philosophy from Sewanee: The University of the South.
READ FULL BIO
Sponsored
Sponsored