Grayscale expands in-kind subscriptions to 10 crypto ETFs and trusts

in-kind subscriptions — Grayscale Investments has expanded its in-kind subscription program to include ten of its cryptocurrency funds, allowing eligible investors to exchange their crypto holdings directly for shares without first converting to cash.

The move broadens access to a service that was previously limited to a smaller selection of Grayscale’s products. This in-kind mechanism is designed to provide a more tax-efficient and seamless entry point for institutions and accredited investors looking to gain exposure to digital assets through a regulated fund structure.

By accepting crypto directly, Grayscale aims to reduce the friction and potential market impact associated with large cash transactions. The expansion covers a range of single-asset and diversified funds, including its flagship Grayscale Bitcoin Trust (GBTC).

The development reflects Grayscale’s ongoing efforts to adapt its product suite and services following the conversion of several trusts into spot ETFs earlier this year, catering to evolving investor demand for flexible on-ramps into crypto investment vehicles.