US Regulators May Approve Grayscale’s Crypto Index ETF
Asset manager Grayscale announced on Nov. 4 that regulators in the United States are currently considering a request to list the first ever exchange-traded fund (ETF) that would hold a diverse assortment of cryptocurrencies, including various altcoins.
This request was made by securities exchange NYSE Arca on Oct. 29, in order to allow for the listing of shares for Grayscale Digital Large Cap Fund (GDLC).
If approved, this would mark the first time that a national securities exchange ruleset would permit the listing and trading of shares for multi-crypto asset ETFs.
Currently, GDLC holds a portfolio of popular cryptocurrencies such as Bitcoin, Ether, Solana, Avalanche, and XRP, but it has not yet been listed on public exchanges for trading.
As of Nov. 4, the fund has approximately $534 million in assets under management (AUM) according to Grayscale’s website.
