According to CoinDesk, Grayscale has applied to convert its Grayscale Digital Large Cap Fund into an exchange-traded fund (ETF). The fund tracks the CoinDesk Large Cap Select Index, which measures the market capitalization-weighted performance of the five largest cryptocurrencies, including BTC, ETH, SOL, XRP, and AVAX.
A Grayscale spokesperson said the application does not guarantee a product launch. Once approved and converted into an ETF, the fund will trade on the New York Stock Exchange.
This is Grayscale’s fifth ETF launch this year, having previously converted the Grayscale Bitcoin Trust and Grayscale Ethereum Trust into ETFs.
