Grayscale Seeks SEC Approval to Convert One of Their Crypto Funds into an ETF

Grayscale Investments is making headlines once again with their latest filing to the U.S. Securities and Exchange Commission (SEC).

Grayscale Investments is seeking to transform its Digital Large Cap Fund, which comprises Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Avalanche (AVAX), into an exchange-traded fund (ETF).

According to the WSJ, the New York Stock Exchange has submitted a request to the U.S. Securities and Exchange Commission (SEC) on Grayscale’s behalf, filing a 19b-4 form to obtain approval for the conversion.

Earlier this year, Grayscale successfully converted its Bitcoin Trust and Ethereum Trust into spot ETFs after receiving SEC approval for both products in the United States.