Giant fund manager Grayscale has submitted a filing to the U.S. Securities and Exchange Commission to receive approval to convert its Digital Large Crypto Fund into an exchange-traded fund. This ETF will include the Ripple-affiliated digital currency XRP.
This decision came after the company completed the same operation with its Bitcoin and Ethereum Trusts, and they are now trading as spot BTC and spot ETH ETFs — since the start of 2024.
The Digital Large Crypto Fund is comprised of five top cryptocurrencies — Bitcoin, Ethereum, XRP, Solana and Cardano’s ADA.
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The filing was submitted with the regulator today, on April 1. According to the fund’s page on the Grayscale website, Bitcoin holds the largest position there — 79.4%. It is followed by Ethereum (10.69%). XRP holds the third position here with 5.85%, followed by SOL (2.92%) and ADA (1.14%).
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