tl;dr
Grayscale Investments is seeking to list a new Bitcoin Adapters ETF product in the United States, as per its registration statement filed with the Securities and Exchange Commission (SEC). If approved, the product will trade on NYSE Arca, marking Grayscale's foray into alternative crypto ETF product...
American crypto asset manager Grayscale Investments is seeking to list a new Bitcoin Adapters ETF product in the United States, as per its registration statement filed with the Securities and Exchange Commission (SEC). If approved, the product will trade on NYSE Arca, marking Grayscale's foray into alternative crypto ETF products.
The Grayscale Bitcoin Adapters ETF aims to track the shares of publicly listed companies with a Bitcoin treasury strategy, holding these companies’ shares in weighted proportion, offering indirect exposure to Bitcoin. The fund will hold at least 80% of its constituent shares and may invest in alternative securities providing similar exposure. It will primarily invest in US and non-US companies with BTC exposure, adhering to eligibility criteria such as trading on a developed stock market and meeting market capitalization and turnover benchmarks.
Additionally, Grayscale has filed to list a Litecoin ETF with the US SEC, further expanding its ETF offerings. MicroStrategy, known for its active Bitcoin strategy and recent acquisition of 11,000 BTC, stands as a potential inclusion in the Grayscale ETF, alongside Riot platforms, Mara Holdings, Metaplanet, and KULR Technologies, all intensifying their BTC acquisition strategies in recent months.