Digital Large Cap ETF Files S-3 for Grayscale Offering

Grayscale Files for Digital Large-Cap ETF Focused on Cryptocurrencies

Grayscale Investments, a leading digital asset management company, has filed a registration statement with the United States Securities and Exchange Commission (SEC) for a new exchange-traded fund (ETF) focused on large-cap cryptocurrencies.

The proposed ETF, dubbed Grayscale Digital Large-Cap Fund, will track the performance of the largest and most widely traded cryptocurrencies by market capitalization. The fund will hold a diversified portfolio of large-cap cryptocurrencies, including Bitcoin, Ethereum, and other prominent digital assets.

According to the filing, the ETF will aim to provide investors with a way to gain exposure to the large-cap cryptocurrency market, which has historically been less volatile than smaller-cap assets. The fund will be actively managed by Grayscale's investment team, which will seek to optimize the portfolio's performance by selecting the most promising large-cap cryptocurrencies.

The proposed ETF will have a management fee of 0.95%, which is lower than many other ETFs in the digital asset space. The fund will also be designed to be highly liquid, with a minimum of 80% of its net assets invested in the underlying cryptocurrencies.

Grayscale's CEO, Michael Sonnenshein, said in a statement: "We believe that a large-cap focused ETF will be an attractive option for investors looking to gain exposure to the most established and widely traded cryptocurrencies. Our team is committed to delivering a high-quality, low-cost product that meets the evolving needs of our clients."

The filing marks the latest move by Grayscale to expand its product offerings and cater to the growing demand for digital asset-based investment products. The company has already filed for several other ETFs, including a DeFi-focused ETF and a Bitcoin ETF. The proposed ETF is subject to regulatory approval and is expected to launch later this year.