The asset manager Grayscale has filed with the United States Securities and Exchange Commission for register three new ETFs in an effort to expand its service offerings into the digital asset space.
Registration statements for theGrayscale Ethereum Futures ETF, Grayscale Global Bitcoin Composite ETF and Grayscale Privacy ETF were sent at the same time as the establishment of Grayscale Funds Trust. This new Delaware statutory trust company will have the mission of allowing the asset manager to independently manage its 1940 law products.
In a communicatedMichael Sonnenshein, CEO of Grayscale said, “We are putting in place the foundation necessary for Grayscale to continue to create and manage regulated and future-oriented products.”
The announcement of Grayscale’s new filings comes some time after the company had a dispute with the SEC over a previous filing. Indeed, the Securities and Exchange Commission had rejected the file for converting the GBTC fund into a spot bitcoin ETF. GBTC is Grayscale’s flagship fund. A final decision is expected in the court case by the fall.
After the new registration statement was filed with the SEC, Grayscale said it still needs to await confirmation from the regulator for it to become effective. As a result, the Ethereum Futures fund and the Bitcoin Composite ETFs will refrain from investing directly in digital assets.
Grayscale Ethereum Futures
In his filing with the SEC for the Ethereum Futures fund, Grayscale reported that “the fund seeks to achieve its investment objective primarily through actively managed exposure to Ethereum futures.”
The firm added that the fund “will seek to purchase a number of Ether Futures” with the aim of owning approximately 100% of the total notional value of Ether held by the fund.
For its part, the Bitcoin Composite ETF will be responsible for seeking investment results that are aligned with the performance of the Indxx Global Bitcoin Composite index.