The U.S. Securities and Exchange Commission (SEC) has officially acknowledged an amendment from Grayscale Investments seeking to convert its Digital Large Cap Fund into a spot exchange-traded fund (ETF).
If approved, the ETF would offer exposure to a diversified basket of major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA).
This development marks another significant step in Grayscale’s ongoing efforts to expand regulated crypto investment products in the U.S. market. The acknowledgment by the SEC does not yet indicate approval, but it signals that the amendment has entered the review process—typically the first hurdle toward potential approval.
Grayscale’s Digital Large Cap Fund is designed to track the performance of a market cap-weighted portfolio of the largest digital assets. Converting it into an ETF would provide a more accessible investment vehicle for institutional and retail investors, enabling traditional brokerage accounts to gain exposure to multiple top-tier crypto assets without directly holding them.
The inclusion of five different cryptocurrencies sets this proposed ETF apart from the recent wave of single-asset products, such as Bitcoin and Ethereum ETFs, which have garnered increased attention and inflows in recent months.
The SEC’s engagement on this multi-asset proposal could also be interpreted as a softening stance toward broader crypto investment vehicles, amid growing pressure from the financial sector to keep pace with global digital asset adoption.
If successful, Grayscale’s initiative could pave the way for more diversified crypto ETFs and offer investors a regulated pathway into the broader digital asset ecosystem.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/grayscale-moves-closer-to-multi-asset-crypto-etf-as-sec-acknowledges-amendment/