Since October 21, Grayscale has allowed wealthy clients to exchange their cryptocurrencies directly for shares in ten ETFs without first selling their tokens or converting them into dollars. In-kind subscriptions cover Bitcoin, Ether, Solana, XRP, Zcash, Avalanche, Sui, Chainlink and Dogecoin, with minimum investments ranging from $80,300 to $364,800 depending on the product. The transaction must be carried out by an authorized participant or a broker connected to one, while five funds lock part of their tokens to secure their networks and earn rewards. Grayscale is targeting large American portfolios and wealth managers, but warns of tax consequences, intermediary fees, price movements during the conversion and the loss of direct control over private keys.
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