Key Takeaways
- • Grayscale is expanding its in-kind subscription structure to 10 investment products, allowing investors to contribute crypto assets directly in exchange for fund shares without first selling tokens for cash.
- • The lineup spans ETF and trust products tied to Bitcoin, Ethereum, Avalanche, Chainlink, Dogecoin, Hyperliquid, Solana, Sui, XRP and Zcash, per The Block's October 21 report.
- • Minimum investments range from about $80,300 to $364,800 depending on the product.
- • Grayscale says the structure lowers the burden and transaction costs of holding assets directly, and enables access through brokerage and retirement accounts, collateral use, and portfolio management tools.
- • The move follows the SEC's July 2025 approval of in-kind creation and redemption for crypto exchange-traded products, which SEC Chair Paul Atkins said would lower product costs and improve efficiency.
Summary
Grayscale is expanding to 10 investment products a structure that lets clients contribute crypto they already hold directly in exchange for fund shares. The approach allows investors to enter a fund without first selling tokens to raise cash, according to the primary report, which cites The Block's October 21 coverage of the lineup.
The products include the Bitcoin Mini Trust ETF and the Ethereum Staking Mini ETF, along with ETF and trust products tied to Avalanche (AVAX), Chainlink (LINK), Dogecoin (DOGE), Hyperliquid (HYPE), Solana (SOL), Sui (SUI), XRP and Zcash (ZEC). Minimum investments range from about $80,300 to $364,800, depending on the product.
Grayscale said the structure can reduce the burden of holding assets directly and lower transaction costs. It also gives investors access through brokerage and retirement accounts, the ability to use holdings as collateral, and portfolio management tools.
Steve Vannoy, head of Grayscale Indexes, said investors are seeking safer and more efficient ways to manage crypto as the market matures. He added that the value of institutional custody is rising as cybersecurity threats, including self-custody risks and DeFi hacks, increase.
The U.S. Securities and Exchange Commission approved in-kind creation and redemption for crypto exchange-traded products in July of the prior year. SEC Chair Paul Atkins said at the time that the approval would lower product costs and improve efficiency, benefiting investors.
The products include the Bitcoin Mini Trust ETF and the Ethereum Staking Mini ETF, along with ETF and trust products tied to Avalanche (AVAX), Chainlink (LINK), Dogecoin (DOGE), Hyperliquid (HYPE), Solana (SOL), Sui (SUI), XRP and Zcash (ZEC). Minimum investments range from about $80,300 to $364,800, depending on the product.
Grayscale said the structure can reduce the burden of holding assets directly and lower transaction costs. It also gives investors access through brokerage and retirement accounts, the ability to use holdings as collateral, and portfolio management tools.
Steve Vannoy, head of Grayscale Indexes, said investors are seeking safer and more efficient ways to manage crypto as the market matures. He added that the value of institutional custody is rising as cybersecurity threats, including self-custody risks and DeFi hacks, increase.
The U.S. Securities and Exchange Commission approved in-kind creation and redemption for crypto exchange-traded products in July of the prior year. SEC Chair Paul Atkins said at the time that the approval would lower product costs and improve efficiency, benefiting investors.
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