Grayscale Investments Files for 3 New Exchange Traded Funds – Grayscale Investments, the top digital currency fund manager in terms of assets under management (AUM), made a significant announcement. They unveiled the launch of the Grayscale Funds Trust and submitted registration filings for three exchange-traded funds (ETFs) with the U.S. Securities and Exchange Commission (SEC).
The Grayscale Funds Trust is a Delaware statutory trust structure that aims to enhance the company’s global asset management capabilities. According to Grayscale, a registration statement related to the trust has been filed with the SEC, but it has not yet been approved.
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Grayscale has previously established Grayscale Advisors, an SEC-registered investment advisor, which will serve as the new trust’s advisor. Alongside the trust, Grayscale has also filed registration statements for three other funds, including the Grayscale Ethereum Futures ETF, Grayscale Global Bitcoin Composite ETF, and Grayscale Privacy ETF.
The Grayscale Ethereum Futures ETF will provide investors with exposure to Ethereum futures contracts traded on commodity exchanges, while the Grayscale Global Bitcoin Composite ETF will provide exposure to Bitcoin through a combination of Bitcoin futures contracts and other exchange-traded products.
The Grayscale Privacy ETF will offer exposure to companies that develop privacy-focused technologies and/or operate in industries where privacy is a key consideration. Grayscale CEO Michael Sonnenshein said in a statement: “The creation of Grayscale Funds Trust reflects our dedication to scaling Grayscale’s business responsibly,” adding that “we are putting the necessary foundations in place so Grayscale can continue creating and managing regulated, future-forward products.”
Moreover, Grayscale announced that David LaValle, the company’s global head of ETFs, would assist with their expansion. “It has been incredibly exciting to build our ETF franchise – hiring a dedicated team, expanding our partnerships, and enhancing our position within the ETF ecosystem,” LaValle said. These announcements demonstrate Grayscale’s ongoing commitment to providing investors with more options for exposure to digital currencies and related technologies.