Grayscale Debuts Cutting-Edge Crypto Trusts for Stacks and NEAR

Amidst SEC Chair Gary Gensler’s firm stance on classifying cryptocurrencies as securities, Grayscale Investments boldly forges ahead, unleashing a wave of cutting-edge digital asset investment opportunities.

Introducing the latest game-changers from Grayscale: the dynamic duo of crypto trusts. The exciting world of Bitcoin layer-2 network Stacks (STX) and altcoin blockchain Near Protocol (NEAR). In a bold move, Grayscale’s head of product and research, Rayhaneh Sharif-Askary, has unveiled these trusts to meet the soaring demand for diversified crypto-asset vehicles.

As the decentralized marketplace continues to evolve at lightning speed, these trusts are the perfect opportunity to expand your crypto portfolio.

“By creating distinctive solutions to address blockchain’s scalability challenges, Stacks and Near are poised to help foster greater adoption”, said Sharif-Askary.

Grayscale’s spot Ethereum ETF play

As they continue to dominate the world of cryptocurrency, they are now setting their sights on listing a spot Ethereum (ETH) ETF. And it’s not just a pipe dream – their recent conversion of their GBTC product from a trust to an exchange-traded fund has boosted their chances of getting the green light from the U.S. SEC.

In fact, things are looking so promising that other companies are jumping on board, with numerous amended filings being submitted in 19b-4 forms.

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Bloomberg’s Eric Balchunas reports that the path to spot Ether ETFs is looking brighter, with the SEC showing a surprising openness to the idea despite political obstacles. But wait, there’s a catch – the commission’s labeling of ETH is causing some heated debates.

Exciting developments are brewing in the world of finance as issuers have made a bold move to remove all staking language from their filings. However, a slight risk of rejection still lingers in the air, keeping us on the edge of our seats.

The highly anticipated verdict from the Wall Street “cop on the beat” is just around the corner, with two bids awaiting their fate before the week comes to a close. And in the midst of it all, Chair Gary Gensler has reaffirmed his stance on cryptocurrencies, declaring them to be securities assets and under the watchful eye of his agency.

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