Grayscale has expanded its in-kind subscription option to 10 digital asset investment products, allowing eligible investors to exchange tokens directly for shares rather than selling their holdings for cash first.
The products covered include the Bitcoin Mini Trust ETF and Ethereum Staking Mini ETF, along with exchange-traded funds or trusts linked to Avalanche, Chainlink, Dogecoin, Hyperliquid, Solana, Sui, XRP and Zcash.
Minimum investments range from about $80,300 to $364,800, depending on the product.
Under the arrangement, investors can contribute digital assets directly in return for shares, subject to the terms of each product and the requirements of the relevant intermediary.
Grayscale said the approach could reduce the practical demands associated with self-custody and potentially lower transaction costs. It also gives investors access to traditional brokerage and retirement accounts, the ability to use holdings as collateral and other portfolio management tools.
“ As digital assets mature, investors are seeking more secure and efficient ways to manage their crypto holdings,” Steve Vanourny, Head of Index at Grayscale, said in a release.
“With growing cybersecurity threats, including self-custody and DeFi exploits, institutional custody is increasingly valuable.”
Vanourny said in-kind investing connects direct ownership of cryptocurrency with more traditional methods of managing an investment portfolio.
He added that it provides access to professionally managed investment products while helping investors obtain other associated benefits.
SEC approval
The U.S. Securities and Exchange Commission approved in-kind creations and redemptions for crypto ETPs in July 2025.
That decision applied to authorised participants, who are institutions allowed to create and redeem shares in such products. Grayscale’s latest offering extends the ability to contribute tokens directly in exchange for shares to eligible investors, although participation remains subject to product-specific conditions and intermediary requirements.
“It’s a new day at the SEC,” Chairman Paul Atkins said when the approvals were announced.
“Investors will benefit from these approvals, as they will make these products less costly and more efficient.”
