Zinger Key Points
- Grayscale aims to make investments in AVAX more accessible to retail investors with the proposed conversion of Avalanche Trust into an ETF.
- Also, with the request to restructure its Digital Large Cap Fund as an ETF, Grayscale has taken yet another significant step toward its goal
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Grayscale’s mission to bring cryptocurrencies in the mainstream financial universe through ETFs has picked up pace. Nasdaq filed a request on March 28, through a 19b-4 filing, to transform Grayscale’s Avalanche Trust into a Grayscale’s spot Avalanche ETF. On Tuesday, Grayscale made further progress in that direction by filing an S-3 form with the SEC to transform its Digital Large Cap Fund into an ETF.
Also Read: BNY Mellon’s BKCG ETF Debuts With A Strategy Of Long-Term Growth Potential
The almost 2-year-old Avalanche Trust was initially intended to offer institutional investors a way to invest in AVAX, the native token of the Avalanche blockchain. By transforming it into an ETF, Grayscale aims to make investments in AVAX more accessible to retail investors while bringing more stringent regulatory protection into mainstream financial markets. If the ETF is approved, this would be yet another step in mainstreaming blockchain-based assets.
Now, with the request to restructure its Digital Large Cap Fund as an ETF, Grayscale has taken yet another significant step toward its goal. The fund offers diversified exposure to several cryptocurrencies, such as Bitcoin, Ethereum, and other leading digital assets. The move is part of Grayscale’s overall strategy of bringing digital asset investing into the traditional markets, enabling both institutional and retail investors to have exposure to cryptocurrencies without actually owning the underlying assets.
With these latest moves, Grayscale is upping the ante in the push for cryptocurrency adoption. By making digital assets more accessible and regulated, the company is carving a path for broader acceptance of cryptocurrency-based investment products.
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