Simply put
- The GSR Digital Asset Treasury Companies ETF invests at least 80% of its assets in companies that hold cryptocurrency from the Ministry of Corporate Treasury.
- The market maker’s registration statement with the SEC included four other funding proposals that focus primarily on Ethereum and staking.
- London-based GSR recently opened its US asset management unit.
Crypto Trading Firm has filed an exchange trading fund that includes proposals for four other funds focused on Ethereum and stakes, based on its Wednesday filing with the U.S. Securities and Exchange Commission, based on its performance of Cryptocurrency Creasuries.
According to the N-1A Registration Statement, the GSR Digital Asset Finance Company ETF will invest at least 80% of its assets in companies holding cryptocurrency of the Ministry of Corporate Treasury. ETFs that initially hold 10-15 positions will target companies listed on US stock exchanges, but may also include private investments in public equity (PIPE).
Pipes are personal resolved transactions, allowing certified investors to purchase stock shares directly from listed companies at regular market prices.
The ETF’s first GSR proposal follows a spring and summer surge in the Cryptocurrency Treasury. These recent initiatives have expanded this phenomenon from the strategic shift in micro-strategy (current strategy) in 2020, to the Bitcoin roots from that phenomenon, to include the Ministry of Finance built on Ethereum, Solana, XRP, Ton, among other tokens.
In filing, the GSR list strategy holds around 640,000 Bitcoins, which are currently worth around $73 billion.
London-based GSR offers market production, venture capital and counter-trading services, but recently added the US asset management division, which has sought to expand its participation in the digital asset sector. In April, GSR led the $100 million funding round for Nasdaq Traded Consumer Products Company Upexi to build the Solana Treasury.
GSR’s latest submissions also covered the GSR Ethereum Staking opportunities, GSR Crypto StakingMax, GSR Crypto Core3, and GSR Ethereum evered ETF. The Core3 fund will focus on Bitcoin, ETH and Solana and earn more rewards.
In recent months, issuers have applied for expansion of crypto ETFs based on various altcoins, token combinations and strategies. As of late August, the SEC had weighed more than 90 of these products submittings, according to a Bloomberg study.
Their odds of approval were boosted last week when regulators signed up on the new generic list standard for product-based trusts and eased the approval process. The agency’s thumb highlighted a more receptive regulatory and political environment that encouraged the publisher.
Last Thursday, Grayscale’s Digital Large Cap Fund (GDLC), which tracks XRP, Solana and Cardano, began trading one day after the Rex-Sosprey Doge ETF (Doje) was approved by the SEC, along with Bitcoin and Ethereum. On the same day, Tidal Financial Group submitted an application quantifying double the Altalt season Crypto ETF daily, based on several Altcoins, but excludes Bitcoin and Ethereum, as well as two other funds.
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