Stamford-based Grayscale Investments®, the world’s largest digital currency asset manager, announced the formation of Grayscale Funds Trust, a Delaware statutory trust structure that will allow the firm to independently manage its 1940 Act products as it continues to build out its ETF franchise.
This move comes as Grayscale continues to scale its business responsibly, according to Grayscale CEO Michael Sonnenshein. He stated, “We are putting the necessary foundations in place so Grayscale can continue creating and managing regulated, future-forward products.”
NEW TODAY: We’re proud to announce the formation of Grayscale Funds Trust, a Delaware statutory trust structure that enhances our capabilities as a global asset manager.
Investors want and deserve access to future-forward investment opportunities, and Grayscale Funds Trust will… pic.twitter.com/qEeqwWHNSe— Grayscale (@Grayscale) May 9, 2023
In addition to creating Grayscale Funds Trust, the company also filed a Registration Statement on Form N-1A with the Securities and Exchange Commission (SEC) for Grayscale Ethereum Futures ETF, Grayscale Global Bitcoin Composite ETF, and Grayscale Privacy ETF, each a series of Grayscale Funds Trust.
The firm previously formed Grayscale Advisors, LLC, a SEC-registered investment advisor, which will serve as investment advisor to the ETFs issued by Grayscale Funds Trust.
Grayscale Global Head of ETFs, David LaValle, stated, “It has been incredibly exciting to build our ETF franchise – hiring a dedicated team, expanding our partnerships, and enhancing our position within the ETF ecosystem.” He added, “We are proud to have launched our first products in the U.S. and Europe in 2022, and today’s filing demonstrates our continued commitment to offering investors innovative ways to access the digital economy and transformative technologies using a familiar, trusted, regulated investment vehicle: the ETF.”
The Registration Statement relating to Grayscale Funds Trust has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
Grayscale enables investors to access the digital economy through a family of secure, regulated, and future-forward investment products. With a proven track record and deep expertise as the world’s largest digital currency asset manager, investors, advisors, and allocators turn to Grayscale for single asset, diversified, and thematic exposure.
This announcement from Grayscale Investments is an important development for the digital asset management industry, as the firm continues to expand its ETF offerings to give investors more options for accessing the digital economy. The creation of Grayscale Funds Trust will provide more regulatory oversight and structure to its 1940 Act products, which could increase investor confidence and participation in the growing cryptocurrency market.
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