There’s something interesting about Grayscale’s in-kind move 👀
On October 21, it opened in-kind creations to 10 products
No need to sell first and turn your holdings into cash
You can enter directly by exchanging crypto for fund shares
It covers major names like BTC, ETH, and SOL
As well as XRP, DOGE, AVAX, LINK, HYPE, SUI, and ZEC
The minimums aren’t low
Roughly $80,300 to $364,800, depending on the product
Most retail investors probably can’t meet them
And it still goes through authorized participants
What matters to me isn’t the minimum
It’s the signal
Since the SEC approved in-kind creations and redemptions on July 29 last year
The wall between crypto and traditional accounts
Has gotten a little thinner
Big holders don’t have to dump their coins first
They can move their positions into regulated products
With lower execution costs and less hassle than self-custody
But don’t get carried away
How it’ll be taxed is still unsettled
And there are custody and counterparty risks
Grayscale itself spells those out in its risk disclosures
In short
This isn’t an entry point for retail investors
It’s another widening of the channel institutions can use to move their holdings
Would you rather keep the coins you hold yourself
Or swap them for fund shares for peace of mind?
$BTC $ETH $SOL
#灰度 #Grayscale #CryptoETF
Not investment advice. DYOR. Trading involves risk.
On October 21, it opened in-kind creations to 10 products
No need to sell first and turn your holdings into cash
You can enter directly by exchanging crypto for fund shares
It covers major names like BTC, ETH, and SOL
As well as XRP, DOGE, AVAX, LINK, HYPE, SUI, and ZEC
The minimums aren’t low
Roughly $80,300 to $364,800, depending on the product
Most retail investors probably can’t meet them
And it still goes through authorized participants
What matters to me isn’t the minimum
It’s the signal
Since the SEC approved in-kind creations and redemptions on July 29 last year
The wall between crypto and traditional accounts
Has gotten a little thinner
Big holders don’t have to dump their coins first
They can move their positions into regulated products
With lower execution costs and less hassle than self-custody
But don’t get carried away
How it’ll be taxed is still unsettled
And there are custody and counterparty risks
Grayscale itself spells those out in its risk disclosures
In short
This isn’t an entry point for retail investors
It’s another widening of the channel institutions can use to move their holdings
Would you rather keep the coins you hold yourself
Or swap them for fund shares for peace of mind?
$BTC $ETH $SOL
#灰度 #Grayscale #CryptoETF
Not investment advice. DYOR. Trading involves risk.