GRAYSCALE CRYPTO LARGE-CAP FUND GETS GREENLIGHT TO BECOME ETF

- Grayscale secured SEC approval to convert its Digital Large-Cap Fund into a fully regulated exchange-traded fund (ETF).

- The fund holds Bitcoin (80.2%), Ethereum (11.3%), $XRP (4.8%), Solana (2.7%), and Cardano (0.81%), tracking the CoinDesk Large-Cap Index.

- With this move, investors can now buy into a basket of top crypto assets through a standard brokerage account, without dealing with private placements or trust NAV discounts.

- As an ETF, the fund provides real-time trading, deeper liquidity, and broader accessibility, especially for institutions and investors who prefer regulated vehicles.

- Grayscale’s ETF also adds oversight, transparency, and investor protections that didn’t exist under its former trust model.

- The SEC’s approval follows years of legal battles, most notably Grayscale’s win in 2023 when a judge ruled the SEC had acted “arbitrarily” in blocking its Bitcoin trust conversion.

- With ETFs now in the mix, those old arbitrage opportunities tied to trust premiums and lock-up periods are fading. It's being replaced by a system that's more transparent, faster, and trusted.