I was scrolling on my phone after waking up this morning, and this Grayscale news made me laugh: in-kind creation for 10 crypto ETFs/trusts—no need to sell your coins for cash first; just exchange them directly for ETF shares.
The list includes the $BTC Mini Trust, an Ethereum staking mini ETF, Solana, XRP, Dogecoin, AVAX, LINK, HYPE, SUI, and Zcash. The SEC approved in-kind creations and redemptions for crypto ETPs last July, and Grayscale is now opening the door to eligible investors, pitching it as a way to “reduce custody burdens and lower trading costs.”
But the entry requirements are no joke: the minimum for the Bitcoin fund is about $365,000, while even the cheapest option, Solana, starts at $80,000—and you have to go through an authorized participant. How is this for retail investors? It’s clearly a coin-deposit channel exclusively for whales.
Sound off in the comments: A) Bullish—big holders lock their coins in ETFs, reducing selling pressure on the market and supporting prices; B) What does this have to do with me? With a $360,000 minimum, my holdings can’t even get near the door. Which side are you on?
$ETH $SOL
#Grayscale #ETF
The list includes the $BTC Mini Trust, an Ethereum staking mini ETF, Solana, XRP, Dogecoin, AVAX, LINK, HYPE, SUI, and Zcash. The SEC approved in-kind creations and redemptions for crypto ETPs last July, and Grayscale is now opening the door to eligible investors, pitching it as a way to “reduce custody burdens and lower trading costs.”
But the entry requirements are no joke: the minimum for the Bitcoin fund is about $365,000, while even the cheapest option, Solana, starts at $80,000—and you have to go through an authorized participant. How is this for retail investors? It’s clearly a coin-deposit channel exclusively for whales.
Sound off in the comments: A) Bullish—big holders lock their coins in ETFs, reducing selling pressure on the market and supporting prices; B) What does this have to do with me? With a $360,000 minimum, my holdings can’t even get near the door. Which side are you on?
$ETH $SOL
#Grayscale #ETF