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The U.S. SEC just gave Grayscale the go-ahead to turn its big crypto fund into a spot ETF.
This ETF will include Bitcoin, Ethereum, XRP, Solana, and Cardano.
Grayscale first launched this fund in 2018. Now it’s getting a fresh upgrade.
It holds around $775 million in crypto, with 80% of that in Bitcoin.
The SEC’s decision came after Grayscale updated its S-3 filing.
That signaled serious talks were happening between them.
Experts expected this win. One even gave it a 95% chance of approval.
The ETF will trade on NYSE Arca. That’s a big deal.
It means U.S. investors now have a regulated way to invest in a mix of top crypto assets.
Until now, most spot ETFs only tracked one coin like Bitcoin.
This opens the door for more diverse crypto ETFs.
We might even see solo ETFs for coins like Solana and XRP next.
(Footnote: ETF = Exchange-Traded Fund, a type of investment fund traded on stock exchanges)
(Footnote: S-3 = A regulatory filing used by companies to register securities with the SEC)
