Grayscale lets eligible investors swap crypto tokens directly for shares in 10 of its funds

Crypto asset manager Grayscale said on Wednesday 21 October that it has expanded in-kind subscriptions to 10 of its digital asset investment products, allowing eligible investors to hand over tokens in exchange for fund shares instead of selling them for cash first, The Block reported.

The products include Grayscale’s Bitcoin Mini Trust ETF and Ethereum Staking Mini ETF, plus funds or trusts tied to Avalanche, Chainlink, Dogecoin, Hyperliquid, Solana, Sui, XRP and Zcash. Minimum investments range from about US$80,300 to US$364,800, according to The Block. Access is subject to each product’s terms and intermediary requirements.

Grayscale said the option can reduce the burden of holding tokens in self-custody and may lower transaction costs, while giving investors access to brokerage and retirement accounts and the ability to use holdings as collateral.

“As digital assets mature, investors are seeking more secure and efficient ways to manage their crypto holdings,” Steve Vanourny, Grayscale’s head of index, said in a release quoted by The Block. He said institutional custody is “increasingly valuable” given cybersecurity threats including self-custody and decentralised finance exploits.

The US Securities and Exchange Commission approved in-kind creations and redemptions for crypto exchange-traded products in July 2025. Those approvals applied to authorised participants, the large firms that create and redeem fund shares; Grayscale’s new option is aimed at eligible investors contributing tokens directly, The Block reported.

See also: BlackRock files for bitcoin ETF designed to limit losses while capping gains.