Grayscale Investments, an American crypto firm, has filed a registration for the new Bitcoin Adapters ETF with the SEC.
Grayscale's New ETF
The new fund will trade on NYSE Arca, aiming to track companies holding at least one billion dollars in Bitcoin. The ETF plans to invest a minimum of 80% of its assets in companies adopting the Bitcoin Treasury Reserve strategy.
Eligibility Criteria for Companies
Grayscale has outlined criteria for companies to be included in the ETF. Companies need to be listed on major exchanges with a market cap of at least $100 million. MicroStrategy stands out as a likely candidate, along with Riot Platforms, Mara Holdings, and KULR Technologies.
Increase in ETF Filings
The SEC has seen a rise in ETF applications, including those from major firms like BlackRock. While Grayscale's ETF focuses on company exposure rather than direct Bitcoin products, it has also filed for a Litecoin ETF.
SEC's decisions on these filings will shape future crypto investment options in the U.S. market. Grayscale’s move demonstrates their commitment to innovation and adaptability amid regulatory changes.
