Grayscale Investments, the leading investment management company, announced on May 9 the launch of the Grayscale Funds Trust, the company’s new arm focused on managing its publicly traded financial products. The funding project is a “Delaware statutory trust structure” that would allow Grayscale to independently manage its funds as the firm continues to build out its ETF franchise.
Grayscale CEO Michael Sonnenshein asserted that the company’s new move illustrates its dedication and responsibility, adding:
Grayscale Investments publicized its “Registration Statement” that the platform filed with the US Securities and Exchange Commission (SEC). The investment management put forward the statement for the approval of three crypto-focused exchange-traded funds, including the Ethereum Futures ETF, the Global Bitcoin Composite ETF, and a Privacy ETF.
The Ethereum Futures ETF would extract securities from Ethereum futures contracts while the Global Bitcoin Composite ETF derives the securities from BTC mining companies. The Privacy ETF would focus on tracking the Indxx Privacy Index, which includes the company’s Zcash trust.
The company’s Global Head, David LaValle shared his enthusiasm for building the ETF franchise. He quoted:
There exists an unsettled battle between Grayscale and the SEC, rooted in the conversion of the $17 billion Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin ETF product. As pointed out by Grayscale’s Legal Officer Craig Salm, the SEC has been partial in denying the company’s application while approving a number of Bitcoin Futures ETFs.
The post Grayscale Introduces Funding Project to Manage Financial Products appeared first on Coin Edition.
See original on CoinEdition
Source: Cryptocurrency - investing.com
