Grayscale ‘100% Committed’ to Making Biggest Crypto Fund an ETF

The company behind the world’s largest cryptocurrency trust intends to flip it into an exchange-traded fund as soon as U.S. regulators allow.

Grayscale Investments LLC is “100% committed” to converting the $39 billion Grayscale Bitcoin Trust (ticker GBTC) into an ETF, the company said in a blog post Monday. While the Securities and Exchange Commission has yet to approve the structure, several issuers have filed applications in recent weeks after North America’s first Bitcoin ETFs began trading in Canada in February.

Michael Sonnenshein

Photographer: Daniel Acker/Bloomberg

The blog post was meant to remind current and potential future investors that the plan all along has ...