NYSE Arca Wants to List Grayscale’s Crypto ETF

The Security Exchange NYSE Arca has filed a request with the SEC to list a new Grayscale ETF that will focus on a diverse selection of spot cryptocurrencies.

The filing, which was dated October 29th, asks for approval to convert Grayscale’s existing Digital Large Cap Fund into an exchange-traded product.

The fund, which was established in 2018, currently holds cryptocurrencies such as Bitcoin, Ethereum, Solana, Avalanche, and XRP, with assets totaling $565 million.

Grayscale submitted their initial request to convert the fund into an ETF on October 16th, just prior to NYSE Arca’s own filing.

The SEC has now officially acknowledged Grayscale’s application and has opened up the opportunity for public comments.

ETF expert Nate Geraci shared this news in an X post, noting that the SEC will now begin the review process for the ETF, which is made up of approximately 77% Bitcoin, 17% Ethereum, and a mix of Solana, XRP, and Avalanche. This marks a significant step towards the potential launch of the new ETF.