[{"category":{"name":"Trending News","exported_url":"trending-news"},"id":"83941c49-9077-4ac5-b2a9-75319d6130a4","updated_at":"2023-05-10T03:27:48.826437+00:00","account":{"firstName":"Mason","lastName":"Thompson"},"description":"Grayscale broadens its range with three additional cryptocurrency ETFs, highlighting their commitment to progress and novelty in the ever-changing domain of digital currencies.","sapo":"Grayscale expands its portfolio with three new crypto ETFs, emphasizing their dedication to growth and innovation in the dynamic cryptocurrency sphere.","title":"Grayscale Launches Three New Crypto ETFs, Expanding Its Operations","content":"

Cryptocurrency asset manager Grayscale Investments has proposed three new crypto-centric exchange-traded funds (ETFs) for approval and unveiled a fresh entity to oversee its expanding funds.

On May 9, Grayscale announced the establishment of a new business division, the Grayscale Funds Trust, enabling the firm to internally manage numerous publicly traded financial products.

Alongside the new trust, Grayscale disclosed that they submitted a registration statement to the United States Securities and Exchange Commission (SEC) for three crypto-centric ETFs, in spite of past regulatory hurdles concerning cryptocurrency-related ETFs.

The newly introduced funds include an Ethereum Futures ETF, a Global Bitcoin Composite ETF, and a Privacy ETF.

The Global Bitcoin Composite ETF aims to invest in exchange-traded products associated with or supported by Bitcoin (BTC), encompassing Bitcoin mining companies.

Likewise, the Ethereum futures ETF would offer indirect access to Ether's potential future value (ETH, currently at $1,850) through shares that follow the price of ETH.

As detailed in the filing, the Grayscale Privacy ETF intends to invest in firms developing privacy-focused blockchain technology.

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The three ETFs will not be accessible for public acquisition until the SEC approves the registration statement associated with Grayscale Funds Trust.

The news arrives while Grayscale remains embroiled in a continuing dispute with the SEC regarding the conversion of its $17 billion Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF product.

On Jan. 13, Grayscale filed a lawsuit against the regulator for rejecting its application, contending that the SEC acted arbitrarily by treating cryptocurrency spot-traded exchange-traded products differently from futures products.

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In its brief against the SEC, Grayscale asserted, "There is a 99.9% correlation between prices in the Bitcoin futures market and the spot Bitcoin market."

Although the SEC has greenlit several Bitcoin Futures ETFs that allow buyers to access the potential future value of BTC, it has consistently rejected all applications for a spot Bitcoin investment product, expressing apprehensions about subjecting investors to possible fraud and market manipulation.

","tags":[{"tag":{"tag":"Grayscale","id_tag":"grayscale"}},{"tag":{"tag":"Cryptocurrency Exchange","id_tag":"cryptocurrency-exchange"}},{"tag":{"tag":"Bitcoin","id_tag":"bitcoin"}},{"tag":{"tag":"ETF","id_tag":"etf"}},{"tag":{"tag":"Bitcoin Investment Trust","id_tag":"bitcoin-investment-trust"}}],"image":{"fileName":"Launches Three New Crypto ETFs.png"}}]

Grayscale Launches Three New Crypto ETFs, Expanding Its Operations

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