Wall Street could soon get a new investment fund that focuses on companies that keep crypto in their cash stock. This is an ETF from market maker GSR, who also registered four other crypto funds to the regulator. The question is whether this opens the door to a broader acceptance of crypto on the stock market, or whether the market becomes saturated.
Fund focuses on companies with crypto in Kas
A submitted document from yesterday shows that GSR is working on the Digital Asset Treasury Companies ETF. This fund wants to buy shares in listed companies that maintain crypto, such as strategy that a huge stock of Bitcoin (BTC) has in the treasury, or Bitmine Immersion Technologies that stores a large part of his assets in Ethereum (ETH).
According to the application, the fund must put at least 80 percent of the assets in companies that have crypto in the greenhouse. GSR does not indicate a lower limit for the size of those companies. The fund will probably start with 10 to 15 positions, spread over 5 to 10 companies.
Examples of possible participations are Sui Group Holdings, which invests in Sui, and CEA industries that BNB owns. With that, GSR not only seems to aim for large coins such as Bitcoin and Ether, but also on companies that Altcoins have on their balance.
Three new GSR ETFs focused on strike
In addition to this Treasury Fund, GSR has submitted three ETFs that focus on strike. It is about the Ethereum strike Opportunity ETF, the Crypto Stakingmax ETF and the Ethereum YieldEdge ETF. The strike is to fix crypto in a network to process transactions in exchange for a reward.
These funds use an offshore subsidiary to buy and strike ether, because American regulations limit direct strike. The Yieldge Fund also wants to generate extra returns through derivatives.
The fifth fund is the Crypto Core3 ETF, which wants to maintain equal positions in Bitcoin, Ether and Solana. This fund has been submitted under the Securities Act of 1933, just like the current Spot Bitcoin and Ether ETFs launched last year.
Source: https://newsbit.nl/gsr-dient-aanvraag-in-voor-etf-gericht-op-crypto-treasurybedrijven/
