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Asset manager Grayscale has filed to list an exchange-traded fund (ETF) holding a diverse basket of spot cryptocurrencies, US regulatory filings show.

On April 1, Grayscale submitted an S-3 regulatory filing to the US Securities and Exchange Commission (SEC), which is required to convert the non-listed fund to an ETF. 

The Grayscale Digital Large Cap Fund, which was created in 2018 but is not yet exchange-traded, holds a crypto index portfolio comprising Bitcoin (BTC), Ether (ETH), Solana (SOL), XRP (XRP) and Cardano (ADA). 

As of April 1, the fund has more than $600 million in assets under management (AUM) and is only available to accredited investors (entities or individuals with high net worth), according to Grayscale’s website.

The filing follows an Oct. 29 request by NYSE Arca, a US securities exchange, for permission to list the Grayscale index fund. 

Related: US crypto index ETFs off to slow start in first days since listing

Index ETFs in focus

The filing underscores how ETF issuers are accelerating planned crypto product launches now that US President Donald Trump has led federal regulators to a softer stance on digital asset regulation. 

In December, the SEC greenlighted the first batch of mixed crypto index ETFs. However, the funds — sponsored by Hashdex and Fidelity — hold only Bitcoin and Ether. They have seen relatively modest inflows since debuting in February.  

In February, the SEC acknowledged more than a dozen exchange filings related to cryptocurrency ETFs, according to records. The filings address issues such as staking and options for existing funds as well as new fund proposals for altcoins such as SOL and XRP. 

According to industry analysts, crypto index ETFs are a main focus for Wall Street’s issuers after ETFs holding BTC and ETH debuted last year. “The next logical step is index ETFs because indices are efficient for investors — just like how people buy the S&P 500 in an ETF. This will be the same in crypto,” Katalin Tischhauser, head of investment research at crypto bank Sygnum, told Cointelegraph in August.

Magazine: How crypto laws are changing across the world in 2025

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Learn MoreGrayscale files S-3 for Digital Large Cap ETF

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Blockchain security firm TRM Labs reported that Russian-language darknet marketplaces dominated crypto-linked drug transactions in 2024. According to the report, the platforms were behind more than 97% of the drug-related crypto activity on the Bitcoin and TRON networks. That translates to around $1.65 billion out of the $1.7 billion traced to drug trade on both […]

The post Russian darknet dominated crypto drug trade in 2024 with $1.65 billion transactions appeared first on CryptoSlate.

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The cryptocurrency market is up today, with the total market capitalization rising by approximately 3.8% in the last 24 hours to reach $2.73 trillion on April 2. The gains were led by Bitcoin (BTC) and Ether (ETH), which have risen around 3% and 5%, respectively.

Let’s look at the top catalysts driving the crypto market rebound today.

Markets take “deep breath” ahead of Trump’s “liberation day”

The crypto market’s recovery today aligns closely with similar rebounds in the US stock market, ahead of Trump’s “liberation day,” with Bitcoin leading the market higher.

What you should know:

• Dubbed by President Donald Trump as a pivotal moment for US trade policy, the “Liberation Day” on April 2 promises the announcement of reciprocal tariffs aimed at rebalancing global trade. 

• Recent weeks have seen cryptocurrencies retreat amid fears of a tariff-induced economic slowdown, with Bitcoin dropping nearly 23% from its all-time high due to macroeconomic uncertainty. 

• However, today’s gains suggest a possible shift in sentiment, with market analysts viewing it as a moment of calm before the storm.

• This has spurred a risk-on sentiment, with Bitcoin climbing back above $84,000 and Ether edging above $1,800. 

• This suggests that investors are positioning themselves ahead of tomorrow’s potentially market-moving news.

• Dogecoin (DOGE) and Cardano (ADA) rose over 6%, while XRP (XRP), Solana (SOL) and BNB (BNB) were up nearly 3.5%.

Looks like global market sentiment is taking a “take a deep breath” approach in the countdown to Donald Trump’s “Liberation Day” tariff announcement, said Reuters’ Kevin Buckland in a Morning Bid newsletter.

“Nothing has really changed: We still are no wiser as to what Trump is set to announce on Wednesday,” Buckland continued, adding:

“Any expectations that there might be room for trade partners to negotiate apparently came undone with the US president’s statement late on Sunday that essentially every country will be slapped with reciprocal levies.”

Commenting on this trading firm, QCP Capital said that a “broad and aggressive regime could deepen recession fears and send risk assets spiraling.” 

QCP Capital added:

“That said, political theatre often leaves room for recalibration. A softer-than-expected rollout could offer markets a brief reprieve.”

Crypto investment funds flows remain positive

The crypto market’s ongoing correction aligns with significant inflows into crypto investment products. 

Key takeaways:

• Digital asset investment products saw inflows for the second week in a row, totaling $226 million during the week ending March 28, as per CoinShares report.

• This brings the last two weeks of inflows to $870 million, following five weeks of outflows.

• Bitcoin investment products saw investor inflows totaling $197 million, while altcoins saw inflows for the first time in 5 weeks totaling $33 million.

• This indicates institutional investors are increasing their exposure to digital assets, albeit in a “cautious” manner, according to CoinShares head of research James Butterfill.

Butterfill said: 

“Following the largest outflows on record, ETPs have seen 9 consecutive trading days of inflows.”

Related: March 2025 in charts: Trump trade war hits Bitcoin, $22M in DeFi hacks

Crypto market technical rebound

From a technical perspective, the crypto market’s bounce today has occurred primarily due to its oversold relative strength index (RSI).

Key points:

• The RSI on the 4-hour timeframe dipped below 30, entering oversold territory.

• A slight rebound in RSI suggests buyers are stepping in to absorb selling pressure.

• As a rule of technical analysis, oversold conditions typically lead to short-term relief rallies.

Furthermore, the crypto market is eyeing extended recovery as it paints a potential double-bottom pattern.

Note that:

• The total crypto market cap chart shows two consecutive lows around $2.60 trillion, forming a double bottom pattern.

• A double-bottom is considered a bullish reversal structure, resolving when the price breaks above its neckline resistance and rises by as much as the pattern’s maximum height.

• Confirmation of this pattern would require a decisive breakout and a four-hour candlestick close above the neckline at $2.67 trillion.

• If the breakout occurs, the measured move target is $2.76 trillion.

• The target lies above a critical supply zone stretching from $2.72 trillion and $2.74 trillion, where all the major moving averages lie.

• Failure to break above this barrier may result in continued consolidation between $2.70 trillion and $2.72 trillion.

According to popular analyst Crypto Zone, the crypto market is still “gripped by fear,” with the Fear & Greed Index sitting at 24, even as the total market cap rises.

The analyst added:

“This mixed sentiment suggests caution, but also potential buying opportunities for those who dare to be greedy when others are fearful.”

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

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