What is CryptoSlate Alpha?
A web3 membership designed to empower you with cutting-edge insights and knowledge. Learn more ›
Connected to Alpha
Welcome! ???? You are connected to CryptoSlate Alpha. To manage your wallet connection, click the button below.
Oops…you must lock a minimum of 20,000 ACS
If you don’t have enough, buy ACS on the following exchanges:
Connect via Access Protocol
Access Protocol is a web3 monetization paywall. When users stake ACS, they can access paywalled content. Learn more ›
Disclaimer: By choosing to lock your ACS tokens with CryptoSlate, you accept and recognize that you will be bound by the terms and conditions of your third-party digital wallet provider, as well as any applicable terms and conditions of the Access Foundation. CryptoSlate shall have no responsibility or liability with regard to the provision, access, use, locking, security, integrity, value, or legal status of your ACS Tokens or your digital wallet, including any losses associated with your ACS tokens. It is solely your responsibility to assume the risks associated with locking your ACS tokens with CryptoSlate. For more information, visit our terms page.
Earn Up to 15% APR & Enjoy 0% Borrow Rates!
Start Now
Those funds involve Bitcoin ETPs, Ethereum futures, and to a lesser extent, Zcash.
Cover art/illustration via CryptoSlate
Grayscale Investments announced on May 9 that it has formed a new entity called Grayscale Funds Trust and filed for three new crypto investment funds.
Grayscale proposes three new ETFs
The Grayscale Funds Trust will act as a Delaware statutory trust structure that allows the firm to manage its older products while also pursuing exchange-traded funds (ETFs).
In addition to creating that new trust, Grayscale has filed registration statements for three new ETFs that are directly or indirectly related to cryptocurrency.
The first is the Grayscale Ethereum Futures ETF, which will derive value from exposure to Ethereum futures contracts. The second is the Grayscale Privacy ETF; this fund will track the Indxx Privacy Index, which itself includes Grayscale’s Zcash Trust.
The third fund is the Grayscale Global Bitcoin Composite ETF, which will make use of exchange-traded products and investment vehicles as well as securities from Bitcoin mining companies. The fund will not invest in digital assets directly, the filing says.
Grayscale emphasized that though it has filed regulatory applications, the above funds are not yet effective and cannot be bought or sold before they become effective.
Grayscale continues to pursue spot ETF
Grayscale is one of the most notable investment firms offering crypto investment vehicles for institutions. The company’s Grayscale Bitcoin Trust (GBTC) has a market cap of $10.84 billion, and the firm also offers numerous other cryptocurrency trusts.
However, GBTC redemptions were halted in 2014 following conflicts with the U.S. Securities and Exchange Commission (SEC). GBTC has recently traded at a discount.
Grayscale has also had difficulty obtaining permission from the SEC that would allow it to convert GBTC into a spot ETF. Grayscale has gone to court over the matter but has not succeeded in launching a crypto spot ETF despite its efforts.
No other firm has successfully launched a Bitcoin spot ETF to date.
CryptoSlate Wrapped Daily: Algorand MyAlgo thefts continue; Grayscale’s ETF case proceeds
Wrapped 2 months ago 3 min read
Judges question SEC’s logic during Grayscale’s first Bitcoin spot ETF appeal hearing
Legal 2 months ago 2 min read
