Before trillion-dollar companies like BlackRock and Fidelity entered the crypto business, the biggest player in this space was DCG company. This is still the case only from the perspective of companies doing crypto business. Many big brands are under it. The largest crypto lender, though bankrupt genesis DCG, which owns many giants including, also owns Grayscale.
Bulk Crypto ETF
It was to be expected, and according to the Bloomberg announcement just published, Grayscale prepared the file. The company already has a fund called GDLC, Grayscale Digital Large Cap Fund. This fund contains $520.8 million worth of cryptocurrencies. BTC, ETH, SOL, XRP and AVAXThe current asset distribution in this fund, which you can invest in at the same time, is as follows.
Today, Grayscale prepared a file to convert this fund into an ETF and open it to the stock market. So we could see a unified cryptocurrency ETF. Moreover, it will include AVAX, XRP and SOL Coin. 4.21% of the fund SOL Coin and 1.78% is XRP, while AVAX represents a more symbolic figure throughout the fund.
Although this fund embraces the idea of long-term investors as 75% BTC and 20% ETH, we will be able to see in the filing whether the rates will be fixed or not.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
