Grayscale is set to amplify its ETF proceedings. The asset manager filed for a privacy-focused Exchange Traded Fund with the SEC on Tuesday.
The new ETF intends to track proceedings related to the privacy and cybersecurity sector.
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Grayscale Files For A One Of A Kind Privacy ETF
Crypto asset manager Grayscale has filed for a new privacy-centric ETF with the SEC.
Per the new SEC filing, the proposed ETF aims to represent the performance of five subcategories. It intends to track and monitor companies engaged in data security and protection, data privacy, cybersecurity products and services, and solutions incorporating privacy-preserving technologies like blockchain, artificial intelligence, and edge computing.
Furthermore, the ETF also plans to contribute 10% of its holdings to Grasycale’s ZCash trust. The trust actively invests in ZCASH, a token focused on establishing anonymous transactional outputs.
“The Index intends to allocate 10% to the Privacy-Preserving Protocol sub-theme, which seeks to capture investment exposure to privacy and security-focused digital assets via ZCSH…. Zcash utilizes zero-knowledge proofs as the primary mechanism for delivering privacy-preserving characteristics to users.”
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Grayscale’s Criteria for Inclusion
Grayscale’s SEC filing has also outlined criteria for companies who wish to be included in its latest product offering. Per the filing, companies must be traded publicly and should possess a market cap of at least $250 million to gain visibility with Grayscale.
This further signals the asset manager’s strict stance on its ETF proceedings which only allows high profile companies to be at the forefront of this change.
With the meteoric popularity of ETFs, Grayscale has emerged as a prominent leader in the space. The firm has nearly $27 billion in assets under its administration. The firm has also been dubbed a leading player spearheading the Bitcoin spot ETF trail.