Grayscale Seeks to Convert Fund With Solana, XRP and Avalanche Into ETF

Grayscale Investments wants to convert its current Digital Large Cap Fund—which includes Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Avalanche (AVAX)—into an exchange-traded fund (ETF).

The New York Stock Exchange made the request to the U.S. Securities and Exchange Commission (SEC) on behalf of Grayscale, The Wall Street Journal reported, filing the 19b-4 form requesting permission to convert the fund.

Grayscale previously converted its Bitcoin Trust and Ethereum Trust into spot ETFs earlier this year following SEC approval of each respective product in the U.S.