In major news to the Grayscale community, it has been announced today that the venture has filed for the registration of Grayscale Funds Trust with the US Securities & Exchange Commission. Once registered, the Trust will enable the powers of Grayscale to independently manage its 1940 Act products.
In terms of the venture carrying the brand of the global asset manager, Grayscale will have enough to enhance its capabilities by deploying the said Delaware statutory trust structure.
Following the successful registration, its functioning will be handed over to Dave LaValle. He currently chairs the position of Global Head of ETF at Grayscale. Dave is known to be working silently without making a lot of public announcements. He was last heard expressing his honor in joining Wall Street Rides FAR for the closing bell at NYSE.
However, to clarify, only the registration form has been filed by Grayscale. Hence, securities may not be sold or be available for purchase with immediate effect. The trading community is advised to wait for the next announcement.
Michael Sonnenshein, the Chief Executive Officer of Grayscale, has talked to the media about this development. Michael has said that the formation of Grayscale Funds Trust reflects the company’s dedication to scaling the business activities in a responsible manner. He has further assured that the team is investing its efforts in establishing the necessary foundations so that the brand can continue to create and manage products that are regulated by relevant authorities. Simultaneously, Grayscale has filed the Registration Statement with the SEC on Form N-1A.
The Registration Statement with the SEC relates to three new products, namely:
- Grayscale Global Bitcoin Composite ETF
- Grayscale Ethereum Futures ETF
- Grayscale Privacy ETF
However, considering the ETF franchise, David LaValle has said that it was exciting to build their franchise. He highlighted that the process involved not just hiring a dedicated team but expanding the partnerships and enhancing their position in the ecosystem of the ETF.
Recalling that Grayscale launched its first product in the markets of the US and Europe in 2022, David has stated that the recent filing demonstrates their continued commitment to offering innovative ways to investors. This majorly includes access to the digital economy and transformative technology via the ETF.
ETF has alternatively been defined in the announcement as a trusted, familiar, and regulated investment vehicle. Grayscale was founded in 2013. Since then, it has been able to keep a clean record of expertise across the world as a manager of digital assets. Its main aim is to enable investors to access the digital economy through various investment products.
The community has taken the development positively, with some users saying that they are now optimistic about $ZEC.Grayscale Investments forming Grayscale Funds Trust comes days after it was announced that Grayscale Solana Trust is available for trading on OTC Markets. The same can be accessed under the symbol GSOL.