Grayscale archived paperwork for the US Securities and Exchange Commission (SEK) Tuesday for three crypto -exchange -traded funds and expanded its list of potential offers as issuers jockey for regulatory approval.
Asset Manager submitted an S-1 registration to a Litecoin Etf, a step that follows its previous bid to convert Grayscale Litecoin Trust to a ETF.
At the same time, it filed S-3 archives to stock-traded funds tied to Bitcoin Cash and Hedera . If approved, the products would join a lineup that already includes Spot Bitcoin and Ether ETFs launched last year.
Fileing emphasizes Grayscales push to diversify its crypto-bound investment products, while regulators weigh how far they should open the door to such means. Just a day earlier, the company tried to convert its chain link Trust a ETF that signalizes a rapid pace in applications despite legislative uncertainty.
Gray scale is not alone. Fidelity, Vaneck and several other issuers have created proposals for foundations with digital assets in the hope that SEC will sign up for more products later in the year. Industry leaders say broader approval could help mainstream investors to get exposure to cryptocurrencies through regulated markets, while potentially facilitating concern for custody and transparency.
Currently, SEC under President Paul Atkins has delayed decisions about a number of crypto ETF applications. A green light from regulators would give investors a way of trading with crypto exposure along with traditional securities in brokerage accounts.
