Until now, holders who wanted Grayscale fund exposure had to sell their coins for cash first. That changed on October 21, when the asset manager switched on in-kind investing for 10 of its products, letting eligible digital assets go in and fund shares come out.

The list spans BTC, ETH, SOL, XRP, DOGE, HYPE, ZEC, SUI, LINK and AVAX funds, including GSOL, GXRP, HYPG and ZCSH.

The mechanism runs mainly through authorized participants, with earlier groundwork including amended agreements with trading firms such as Jane Street and Virtu. Grayscale pitches the switch as a way to cut self-custody burden and the execution costs of selling on crypto marketplaces.

The SEC approved in-kind creations and redemptions for spot crypto ETPs in July 2025, and issuers have spent months rewiring custody and trading agreements since. For Grayscale, the rollout keeps pace with rivals as fee pressure grows across the category.