Grayscale and Canary Capital Propose New ETF

Grayscale Investments has filed an application with the U.S. Securities and Exchange Commission (SEC) to convert its hybrid cryptocurrency fund into an exchange-traded fund (ETF). Currently, Grayscale’s Digital Large Cap Fund (GDLC) trades over-the-counter with $524 million in assets under management, primarily in Bitcoin (BTC) and Ethereum (ETH).

If approved, Grayscale would list the ETF on the New York Stock Exchange (NYSE). The move follows Grayscale’s successful conversion of its Bitcoin and Ethereum funds into ETFs.

Canary Capital is also planning a Litecoin (LTC) ETF, which would use CoinDesk’s Litecoin price index to determine its daily net asset value. With a market capitalization of nearly $5.3 billion, Litecoin is considered a reliable digital asset with great potential.

🔗 These developments show optimism about blockchain technology and cryptocurrencies amid an increasingly flexible regulatory environment.