NYSE Arca has requested approval from US regulators to list a Grayscale exchange-traded fund (ETF) that includes a variety of spot cryptocurrencies. The Grayscale Digital Large Cap Fund, established in 2018 and currently not traded, consists of a crypto index portfolio with Bitcoin, Ether, and Solana, among others, totaling around $565 million in assets under management. Grayscale applied to convert the fund into an ETF shortly before NYSE's filing. This move faces competition from other proposed index funds like those from Hashdex and Franklin Templeton. Unlike its competitors, Grayscale's fund tracks a diverse range of alternative cryptocurrencies such as Avalanche and XRP. Industry experts believe that crypto index ETFs are the next significant focus for issuers following the listing of BTC and ETH ETFs earlier this year. The surge in filings for crypto products is seen as a strategic move ahead of the US presidential election outcome, with different expectations based on the potential winner. Read more AI-generated news on: https://app.chaingpt.org/news

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