Grayscale has filed an application to launch an exchange-traded fund (ETF) that holds a broad range of spot cryptocurrencies, according to US regulatory documents.
On April 1, Grayscale filed the required Form S-3 with the SEC to convert its non-listed fund into an ETF.
The Grayscale Digital Large Cap Fund, created in 2018, has a cryptocurrency index portfolio consisting of Bitcoin, Ether, Solana, XRP and Cardano, although it is not yet publicly traded.
As of April 1, the fund manages more than $600 million in assets and is accessible exclusively to high net worth accredited investors.
This filing is in response to an application filed on October 29 by NYSE Arca, a US exchange, seeking approval to list Grayscale's index fund.