SEC Greenlights Grayscale’s BTC, ETH, XRP, ADA Fund Conversion To ETF

The U.S. Securities and Exchange Commission (SEC) has approved Grayscale’s proposal to convert its Digital Large Cap Fund into a spot exchange-traded fund (ETF).

This decision brings together Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA), offering a new investment vehicle for U.S. investors.

Grayscale’s BTC, ETH, XRP, ADA Large Fund Conversion to ETF Approved

Grayscale’s newly approved spot ETF will allow investors easier access to a regulated product that includes top digital assets. The fund, previously available only in private markets, will now be listed on major stock exchanges, broadening its accessibility to a wider range of investors.

This decision comes as part of a growing trend of increasing regulatory oversight on cryptocurrency products in the U.S.

The approval is notable because it marks the first multi-token spot ETF, offering exposure to several popular cryptocurrencies in one fund. The decision follows the SEC’s approval of Grayscale’s Bitcoin futures ETF and its earlier decision to allow the conversion of Grayscale’s Bitcoin Trust (GBTC) into a spot Bitcoin ETF in January 2024.

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Kelvin Munene Murithi

Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary .


With a Bachelor’s degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets.


His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content.


Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape.


Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.

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