YSE Arca’s application to the SEC brings the institutional crypto access through the Grayscale Digitals Large Caps ETF a step closer. The fund has Launched in 2018 and the fund has $565 million in AUM and follows the coin base large cap select index, with five top coins.
Investment Strategy
The proposed ETF is special because it allows investment in other assets besides the flagship cryptocurrencies such as Bitcoin and Ethereum. With Solana and other altcoins onboard, it offers better diversification of investment portfolios since investors can follow the performance of several major cryptocurrencies in one instrument.
Market Competition
Moreover, The filing is combining Hashdex and Franklin Templeton which alongside have applied for a crypto index ETF. Furthermore the VanEck, 21Shares, and Canary Capital are also seeking listing for spot ETFs relaated to other cryptocurrencies such as Solana, Ripple and LTC.
Political Implications
It is important to notes that the regulatory matters related to crypto ETFs might be influenced by the upcoming US presidential election according to the analyst Eric Balchunas. It is expected that Trump’s win might mean a more positive outlook towards products related to crypto investment.
ETF Filing Overcomes Traditional Crypto Divide
This filing marks a positive development in the journey to expansion of crypto investment products for ordinary markets which can help institutional investors to expand their portfolios in the crypto space.
