Grayscale Expands In-Kind Subscriptions to 10 Crypto Funds
Grayscale has expanded in-kind subscriptions to 10 crypto funds, allowing eligible investors to swap tokens for shares without selling for cash.
Grayscale has expanded in-kind subscriptions to 10 crypto funds, according to a report by TheBlock. The update enables eligible investors to exchange underlying tokens directly for shares without needing to sell their holdings for cash first.
Fund Expansion
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The adjustment applies across a selection of 10 crypto exchange-traded products and trusts managed by the firm. In-kind creation and redemption mechanisms are widely utilized in traditional exchange-traded funds to improve operational efficiency and potentially reduce transaction tax friction for participants.
Key facts
- Funds Involved: Grayscale expanded in-kind subscriptions to 10 crypto ETFs and trusts.
- Mechanism: Eligible investors can swap tokens for shares directly.
- Cash Conversion: The process removes the requirement to sell assets for cash prior to participation.
Source: theblock.co
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