The US Stock Exchange Nasdaq has filed the US Securities and Exchange Commission (SEC), seeking permission to list the Grassscale Investments Spot Ailanch Exchange-Traded Fund (ETF).
document, Filed On 27 March, a rule asks for a rule change to list the Grandcale Evelancing Trust (Avax). The derivative products in the question will be the conversion of the close-ended Awaax funds of the Grassscale Investments launched in August 2024.
Scal Said On its website that “its SEC-reporting products offer a strong case for uplift when allowed by the American regulatory environment.” The firm explained that, after the conversion, “the intermediary mechanisms contained for ETFs will help the product track the value of the property more closely”.
At the time of publishing, The Grassscale Avalchant Trust has assets worth $ 1.76 million under management. According to Coinmarketcap, the current net property price per share is $ 10.86 per share, priced at $ 10.11. dataWhich keeps the current market value of the fund for the value of its underlying assets at 7.4% premium.
Connected: NYSE has proposed to change the rules to allow Eth stacking on Spot Ether ETF of Grassscale.
Grassscale Crypto expands ETF Prasad
Grassscale’s website Lists 28 crypto products, 25 of which are single-asset derivatives and three are diverse. The firm is currently waiting for the approval of its XRP spot ETF, as well as other products.
Other examples include its spot cardano ETF filing and its Litcoin Trust Conversion in ETFs. These filing also follow the company’s successful conversion of its ether and bitcoin’s close-ended funds.
In 2024, Grassscale Investments also announced to convert a part of their bitcoin and atherium ETF into spinoff products. The new Grassscale Bitcoin Mini Trust (BTC) and Grassscale Ether Mini Trust (ETH) features low fees and follow their derivatives, losing capital for more cost -effective options.
Connected: Blacrock Bitcoin ETP ‘Key’ for the adoption of European Union despite low income expectations
United States Bitcoin ETF property under management by product. Source: Macromisro
Data reported in late 2024 suggests that since the launch on January 11, 2024, more than $ 21 billion has been withdrawn from the Grassscale Bitcoin Trust (GBTC). It made it the only US-based bitcoin ETF with a negative investment flow at that time.
The offer of this product has the highest management fee between all products, which is determined at 1.5% per year. Other ETFs range from 0.15% to the highest priced contestants for the Grassscale Bitcoin Mini Trust.
Given the Ethereum ETFS, the situation is quite similar, Grassscale Ether Mini Trust with the lowest fee and most of its old Ethereum Trust product. Competitive offerings do not charge more than 0.25%again.
magazine: Steps for Arbitem Co-Founder and Native Rollup: Steven Goldfeder
