펀365 【보증업체】 가입코드 이벤트 쿠폰；온라인바카라

Ronaldo Marquez — Thu, 17 Oct 2024 14:00:55 +0000

Crypto asset manager Grayscale is in the process of converting its Grayscale Digital Large Cap Fund (GDLC) into an exchange-traded fund (ETF), according to Bloomberg ETF expert Eric Balchunas.

The strategic move aims to provide investors with a diversified portfolio that includes major digital assets such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP and Avalanche (AVAX).

Diversified Exposure To Bitcoin, Ethereum, And More

The proposed ETF comes at a time when investor interest in regulated cryptocurrency products is on the rise. Grayscale’s Digital Large Cap Fund currently holds approximately $524 million in assets under management, with a significant focus on Bitcoin and Ethereum.

Specifically, about 75% of the fund is allocated to Bitcoin, while Ethereum comprises roughly 19%, with the remaining investments distributed among Solana, XRP, and Avalanche.

According to reports on the matter, this diversified approach is designed to offer a balanced entry point for investors seeking broader exposure to the cryptocurrency market.

The New York Stock Exchange (NYSE) had previously filed a 19b-4 application on behalf of Grayscale, seeking the Securities and Exchange Commission’s (SEC) approval to amend its rulebook to permit the listing of this new ETF.

This filing follows a pivotal year for the market, which recently saw the approval of spot ETFs for Bitcoin and Ethereum in January and July respectively, allowing these funds to hold actual tokens rather than relying on futures contracts.

This shift comes after years of rejections of such index funds, spurred by a court ruling in favor of Grayscale that prompted the Securities and Exchange Commission led by Gary Gensler to reconsider its stance.

Grayscale Aims For Fifth ETF Launch This Year

The successful conversion of Grayscale’s Digital Large Cap Fund into an ETF would mark the fifth launch by the firm this year, highlighting its strategy to expand its product offerings in response to increasing demand for diverse digital asset exposure.

Balchunas noted that the ETF’s holdings, predominantly consisting of Bitcoin and Ethereum, could provide enough flexibility to accommodate smaller, less liquid assets, potentially paving the way for approval.

Over the course of the year, Grayscale’s Bitcoin and Ethereum funds have seen significant outflows, with around $20 billion and $3 billion withdrawn respectively.

In response, the firm has introduced lower-fee versions of these funds, attracting over $700 million in inflows thus far. These approvals have contributed to a surge in Bitcoin and Ethereum prices, indicating a renewed investor confidence in the cryptocurrency market.

Other asset managers are also positioning themselves to launch ETFs that include smaller tokens such as Solana, XRP and Litecoin, with recent filings from Canary Capital and Bitwise Invest highlighting a broader trend to integrate a wider range of cryptocurrencies into regulated investment vehicles, despite increased scrutiny from regulators in the US.

At the time of writing, the largest cryptocurrency on the market, BTC, is trading at $67,750, up a substantial 11% on a weekly basis. Featured image from DALL-E, chart from TradingView.com

판도라카지노 실시간 접속 도메인；판도라토토 바카라 사이트

Scott Matherson — Fri, 20 Sep 2024 23:30:50 +0000

Grayscale’s XRP trust has grown noticeably since launch, a development which spells positive momentum for the digital asset. As one of the leading cryptocurrency asset managers in the world, Grayscale’s decision to unveil the first XRP trust in the US last week signaled the beginning of an institutional influx of funds into the cryptocurrency. Since its debut, the Grayscale XRP Trust has performed remarkably well. Data indicates that the trust’s value has surged by 11.44%, a clear indication of strong demand from institutional investors.

Value Of Grayscale XRP Trust Rallies

Grayscale’s XRP trust tracks the price of the altcoin, and investors buy shares of the trust to gain exposure to the cryptocurrency. When talking about the momentum building behind Grayscale’s XRP trust, we are looking at its Net Asset Value (NAV). The NAV is a measure of the value of each share in the trust and is calculated after every business day. A rising NAV is an indicator of increased institutional investment in the trust. As such, an increase in the NAV relates to a bullish sentiment among traders and the spot price of XRP.

According to the manager’s website, NAV for the XRP trust currently stands at $11.79, which translates to an increase of slightly above 11.4% in just one week after launch. This impressive rise is not a result of chance but rather the outcome of several positive developments within the broader XRP ecosystem, which work together to signal the continuation of positive momentum.

What Is Driving The Momentum?

One of the primary drivers behind this bullish momentum is the highly anticipated launch of Ripple’s USD stablecoin, RUSD. The upcoming stablecoin has generated considerable excitement in the cryptocurrency community, as it is expected to play a pivotal role in enhancing liquidity and cross-border payment solutions. The stablecoin is set to debut before the end of the year, but institutional investors are cautiously awaiting further regulatory clarity from the SEC before making larger moves into the market.

Another factor boosting confidence in XRP is the recent inclusion of the cryptocurrency on the European version of Robinhood. As one of the largest trading and investment platforms, this is a major achievement for the cryptocurrency because it opens up adoption to the large European market.