Asset manager Grayscale has filed documents with the U.S. Securities and Exchange Commission (SEC) for three new ETFs aimed at expanding its offerings in the digital asset space.
Grayscale Continues to File ETF with SEC
The registration statement for the Grayscale Ethereum Futures ETF, Grayscale Global Bitcoin Composite ETF, and Grayscale Privacy ETF was submitted with the creation of the Grayscale Funds Trust, a Delaware statutory foundation structure that will allow the firm to independently manage its 1940 Act products.
"We are laying the foundations so that Grayscale can continue to manufacture and manage regulated, future-proof products," Grayscale CEO Michael Sonnenshein said in a statement.
The move comes amid a lengthy dispute with the SEC after the regulator rejected an offer to convert its flagship GBTC fund into a spot Bitcoin ETF. The company said it expects a final decision in the court case by the fall.
While the new registration statement has been filed with the SEC, Grayscale said it has yet to go into effect. The Ethereum Futures fund and Bitcoin Composite ETFs will not directly invest in digital assets.
“The fund seeks to achieve its investment objective primarily through active exposure to Ethereum futures contracts,” said Grayscale, referring to the Ethereum Futures fund, “The total nominal value of Ethereum (i.e., the total value of the underlying asset) underlying the Ethereum Futures held by the Fund) “It will seek to purchase a series of Ethereum Futures that will account for approximately 100% of its net assets.”
At the time of this writing, Ethereum's price was trading at $ 1838.
*Not investment advice.