Grayscale Investments, the leading cryptocurrency asset manager, said on May 5 that it has filed a registration statement on Form 10 with the Securities and Exchange Commission for multiple funds.
According to the press release, the voluntary filing will be reviewed by the securities regulator.
Grayscale Horizen Trust, Grayscale Zcash Trust, and Grayscale Stellar Lumens Trust will become SEC-reporting companies if they are permitted for business orientation.
Acquiring such a regulatory formation is critical since it makes the aforementioned trusts accessible to the broadest possible pool of investors.
If the filing is effective, investors who purchased shares in the previous funds will be able to sell their shares on the market after six months.
Grayscale Bitcoin Trust, the crown jewel of the biggest crypto money management, was the first to gain SEC-reporting business status in January 2020. It now manages assets worth $25.5 billion.
Since then, it has successfully filed five trusts with the Securities and Exchange Commission.
Grayscale is now working hard to transform its Bitcoin trust into an ETF. It has modified its application to make it more appealing to the SEC and has begun a big advertising campaign on Amtrak. CEO Michael Sonnenshein also threatened to sue the SEC if its petition to construct the first bitcoin ETF was rejected.