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<p class="is-style-lead">Despite SEC Chair Gary Gensler’s belief that most cryptocurrencies are securities, Grayscale Investments continues to launch new digital asset investment products.&nbsp;</p> 
<p>Grayscale has introduced two new standalone crypto trusts, providing limited exposure to Bitcoin layer-2 network Stacks (<a href="https://crypto.news/price/stacks/" rel="">STX</a>) and altcoin blockchain Near Protocol (<a href="https://crypto.news/price/near-protocol/" rel="">NEAR</a>).&nbsp;</p> 
<p>In a Thursday <a href="https://www.globenewswire.com/news-release/2024/05/23/2887299/0/en/Grayscale-Investments-Launches-New-Investment-Trusts-Grayscale-Near-Trust-and-Grayscale-Stacks-Trust.html" target="_blank" rel="">press statement</a>, Grayscale’s head of product and research, Rayhaneh Sharif-Askary, explained that the creation of these trusts is in response to the growing demand for diversified crypto-asset vehicles in a rapidly developing decentralized marketplace.&nbsp;</p> 
<p>“By creating distinctive solutions to address blockchain’s scalability challenges, Stacks and Near are poised to help foster greater adoption”, said Sharif-Askary.</p> 
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   <p lang="en" dir="ltr">We are proud to announce the creation of two new single-asset crypto investment trusts, available through private placement: Grayscale® Near Trust ($NEAR) and Grayscale® Stacks Trust ($STX).<br><br>Read more in our press release: <a href="https://t.co/Ve8RCQyKmh" target="_blank" rel="">https://t.co/Ve8RCQyKmh</a><br><br>1/3 <a href="https://t.co/3S5yMAj5fi" target="_blank" rel="">pic.twitter.com/3S5yMAj5fi</a></p>— Grayscale (@Grayscale) <a href="https://twitter.com/Grayscale/status/1793630484263850470?ref_src=twsrc%5Etfw" target="_blank" rel="">May 23, 2024</a>
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<p> You might also like: <a href="https://crypto.news/fit21-bill-passed-by-us-house-of-representatives/" rel=""> FIT21 bill passed by US House of Representatives </a> </p> 
<h2 class="wp-block-heading" id="grayscale-s-spot-ethereum-etf-play">Grayscale’s spot Ethereum ETF play</h2> 
<p>Meanwhile, Grayscale is expanding its crypto suite simultaneously with efforts to list a spot Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank" rel="">ETH</a>) ETF, following the successful conversion of its GBTC product from a trust to an exchange-traded fund.&nbsp;</p> 
<p>Odds of a U.S. SEC approval for the application improved in recent days, and observers are optimistic about its success. Several prospective issuers have <a href="https://crypto.news/ethereum-etf-applicants-submit-19b-4-forms/" rel="">submitted</a> amended filings in 19b-4 forms.&nbsp;</p> 
<p>Bloomberg’s Eric Balchunas highlighted that recent developments indicate progress with spot <a href="https://crypto.news/?s=Ethereum+etf" rel="">Ether ETFs</a>, and a willingness from the SEC to consider the products, despite political tailwinds. However, the commission’s classification of ETH remains a bone of contention.&nbsp;</p> 
<p>For this reason, issuers removed all staking language from filings and a 25% chance of rejection still exists.&nbsp;The Wall Street “cop on the beat” is scheduled to deliver its final decision on two bids before week’s end. At the same time, Chair Gary Gensler once again <a href="https://vimeo.com/event/4246348" target="_blank" rel="">reiterated</a> that most cryptocurrencies are securities assets and should fall under the purview of his agency.</p> 
<p> Read more: <a href="https://crypto.news/election-politics-or-crypto-evolution-speculation-abounds-as-sec-hints-at-approving-ethereum-etfs/" rel=""> Election politics or crypto evolution? Speculation abounds as SEC hints at approving Ethereum ETFs </a> </p>

Grayscale unveils crypto trusts for Stacks and Near

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