Grayscale Pushes for Crypto ETF—Bitcoin, Ethereum, XRP, Solana & Cardano Included!

Grayscales is moving to create a multi-crypto ETF. This is a big step as this will help in making digital assets more accessible to old investors. Many investors now stop themselves from entering the crypto market as there have been concerns about security, storage, and regulatory uncertainty. Grayscale has offered an ETF that includes multiple cryptocurrencies, which aims to provide a safer and more convenient environment for investors.

This ETF could only succeed if the SEC approves it, and is expected to be decided by July. If it gets approved, it may open the doors for more similar funds, helping to introduce crypto into global finances. However, if it faces rejection, this could signal stricter regulations ahead for the industry. Either way, this decision will have a major impact on the future of crypto investments.

SEC Decision Expected in July—Will It Be Approved?

NYSE Arca had previously submitted a 19b-4 filing in October 2024, seeking approval for listing and trading GDLC as a public ETF. Bloomberg analyst James Seyffart noted that this filing aligns with the SEC’s July decision deadline, with a real possibility that index-based crypto ETFs could debut before the end of 2025. GDLC currently holds over $530 million in assets, and if approved, the ETF conversion could drive higher institutional adoption of crypto assets. ETFs have already played a significant role in injecting liquidity into the market, with over $36 billion in net inflows since the launch of Bitcoin spot ETFs in January 2024.

Bitcoin Reacts as ‘Liberation Day’ Tariffs Loom

Bitcoin gained 2% in 24 hours to trade at $84,584, while Ethereum rose 2.3% to $1,876, according to CoinGecko. However, XRP, Solana, and Cardano saw little reaction, as investors remain cautious ahead of Donald Trump’s ‘Liberation Day’ tariffs—a policy that is expected to impact global markets. Market analysts conclude that these tariffs could trigger a market correction, with equities going down 4-5% weekly. Despite April’s historical strength for crypto, volatility remains high as investors assess potential macroeconomic risks.

Final Thoughts

Grayscale is planning to turn its Digital Large Cap Fund into a multi-crypto ETF. This is a big step as to bring cryptocurrency into the financial world. So far, Bitcoin and Ethereum have been reacting positively to the news. They are making investors believe that this might be a promising move. However, the overall crypto market is still in doubt because of economic uncertainties like inflation and government regulations. The SEC’s decision in July could be an important movement for the whole industry. If the ETF gets approved, it could allow more people, especially big investors, to easily invest in multiple cryptocurrencies through a regulated and familiar system. For now, investors are waiting to see what happens, as this decision could shape the future of crypto investments.

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