Grayscale Angling for 3 New Crypto ETFs as GBTC Ruling Nears

One of the three funds proposed by the crypto asset manager would invest in companies and digital assets focused on privacy

article-image

Ascannio/Shutterstock modified by Blockworks

share

Grayscale Investments is looking to launch a trio of new funds, regulatory filings show, as the firm awaits a court ruling related to the planned conversion of its flagship product to an ETF. 

The crypto-focused asset manager is looking to bring to market an index-tracking Global Bitcoin Composite ETF that would invest in exchange-traded products that hold or are backed by physical bitcoin — plus bitcoin mining companies. 

Bloomberg Intelligence analyst Eric Balchunas called the proposed fund a “semi-spot bitcoin ETF” in a tweet.  

Grayscale is also looking to launch a fund that offers “actively-managed exposure to ethereum futures contracts,” the document shows. In the US, filing regulatory paperwork for new fund products does not necessarily indicate they’ll be approved. 

While bitcoin futures ETFs first launched in the US in October 2021, there are not yet ether futures funds in the country. 

A third proposed fund, the Grayscale Privacy ETF, would invest in companies developing blockchain-based privacy solutions. It would also look to put capital to work in digital assets “designed to ensure more private and secure transactions by obfuscating user identities and transaction details,” the filing states.

“Grayscale remains committed to scaling our business responsibly,” a spokesperson told Blockworks in an email. “Our goal is to continuously improve, streamline, and modernize our clients’ investment experience.”

Loading Tweet..

The product plans come as Grayscale waits on a court ruling related to its case against the SEC. It sued the US securities regulator last year after the SEC blocked its proposal to convert its Grayscale Bitcoin Trust (GBTC) to an ETF. 

In addition to the proposed ETFs, Grayscale on Tuesday pointed to the formation of Grayscale Funds Trust, a Delaware-domiciled “statutory trust structure” that Grayscale said in a tweet “enhances our capabilities as a global asset manager.” The fund structure is designed to include Grayscale’s ETF products if they move forward with regulatory approval.  

“The creation of Grayscale Funds Trust reflects our dedication to scaling Grayscale’s business responsibly,” Grayscale CEO Michael Sonnenshein said in a statement. “We are putting the necessary foundations in place so Grayscale can continue creating and managing regulated, future-forward products.”


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Research Report Templates.png

Research

The convergence of DePIN and energy generation aims to address modern grid challenges by incentivizing distributed generation.

article-image

However, they noted there’s now an increased risk that unemployment and inflation will rise in the coming months. 

article-image

The network’s most ambitious upgrade since the Merge brings validator streamlining, smart account UX and doubled blobspace to Ethereum

article-image

Debate over extra Bitcoin use cases has returned, two years on from Ordinals

article-image

Altcoin season may be on a permanent pause as the market matures and paths grow more selective

article-image

Today’s blockchains are more like nervous systems without a brain — wiring without will

article-image

A number of blockchains make use of the Solana Virtual Machine