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Home»ADOPTION NEWS»DRW Venture Capital to Release $200 Million in Crypto ETF Stake, Led by ETHE
ADOPTION NEWS

DRW Venture Capital to Release $200 Million in Crypto ETF Stake, Led by ETHE

By Crypto FlexsAugust 13, 20243 Mins Read
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DRW Venture Capital to Release 0 Million in Crypto ETF Stake, Led by ETHE
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Financial Company • August 13, 2024 5:11 PM EDT

Posted 1 minute earlier ~ in

The venture arm of Chicago-based high-frequency trading firm DRW Holdings Revealed It now has at least $195 million worth of cryptocurrency exchange-traded funds, including over $150 million in the Grayscale Ethereum Trust, marking the company’s first exposure to cryptocurrencies. Ethereum

+1.13%
According to its most recent Form 13F filing with the U.S. Securities and Exchange Commission,

The SEC approved the first spot ether ETF to begin trading in July, roughly six months after the launch of the spot bitcoin ETF. And while the spot bitcoin ETF has seen billions of dollars in net inflows from a mix of institutional and retail traders, the Ethereum-based fund has yet to gain as much traction.

DRW’s entry into the ETH ETF market could be a sign of growing institutional interest in the second-largest cryptocurrency by market cap, with the firm owning more than a three-fold increase in ETH ETFs. Bitcoin

+3.34%
The ETF (actually the Grayscale ETHE product) is the third-largest holding, behind funds tracking the S&P 500 and the Gold Trust.

The firm’s exposure to BTC ETFs is also less concentrated than that of specific funds. It holds Bitcoin products issued by Ark, 21Shares, Bitwise, BlackRock, Fidelity, and Proshares, the latter being its largest Bitcoin-focused holding.

DRW has been increasingly involved in the crypto industry since at least 2018. For example, Cumberland, a crypto-focused market making unit, has been selected as a liquidity provider for several Bitcoin ETFs. Cumberland also recently received a “Bitlicense” from the New York State Department of Financial Services.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the largest investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are the current financial disclosures.

© 2024 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

About the Author

Daniel Kuhn is a senior journalist and editor at The Block, covering the cryptocurrency industry with a particular focus on technology. He previously served as an associate editor at CoinDesk, where he covered the opinions/articles section. He was first published in the trade publication Financial Planning. Before pursuing journalism, he studied philosophy as an undergraduate, English literature as a graduate student, and business and economic reporting at NYU’s professional program. You can connect with him on Twitter and Telegram @danielgkuhn, or find him on Urbit as ~dorrys-lonreb.

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