Grayscale opens in-kind investing across ten crypto products

Eligible investors can swap tokens for fund shares directly, with minimums running from about $80,300 to $364,800.

CoinDesk AI Desk

21 Oct 2026, 17:27 UTC · 2 min read

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Grayscale opens in-kind investing across ten crypto products — Image: CoinGape

Key takeaways

Ten products covered. Grayscale's service spans 10 investment products, including BTC, ETH, SOL, XRP and DOGE.
High entry bar. Minimums run from about $80,300 for the Solana Staking ETF to $364,800 for the Bitcoin Mini Trust.
SEC paved the way. The rollout follows the SEC's July 2025 approval of in-kind creations and redemptions for crypto ETPs.

What happened

Grayscale launched an in-kind investing service on October 21, 2026. Eligible investors can exchange supported tokens directly for shares in 10 investment products instead of selling for cash first. The lineup covers Bitcoin, Ethereum, Solana, XRP, Dogecoin, Avalanche, Chainlink, Hyperliquid, Sui and Zcash.

Entry costs differ widely by product. The Solana Staking ETF has the lowest minimum at about $80,300, while the Bitcoin Mini Trust requires $364,800. Dogecoin requires about $95,550, compared with $257,000 for XRP and $322,600 for Zcash. Grayscale listed the minimums as of October 20, 2026, and they move with crypto prices.

Investors cannot subscribe on their own. They must go through authorized participants or approved intermediaries connected to one. Facilitator fees, product availability and other restrictions apply.

First $1.52Latest $1.38-9.2% over the period

Points are daily observations, not closing prices.

Why it matters

The service removes a cash step for holders who want fund shares. Investors give up direct control of the contributed tokens but keep market exposure through traditional accounts. Steve Vanourny, Grayscale's Head of Index, said institutional custody has become increasingly valuable as crypto investors face cybersecurity threats. He also pointed to possible uses in collateral, estate planning and portfolio management.

The rollout follows the SEC's July 2025 approval of in-kind creations and redemptions for crypto exchange-traded products. SEC Chairman Paul Atkins said the mechanism could make crypto investment products less costly and more efficient. Grayscale warned that facilitator fees, market price differences and possible tax obligations still apply, and products rely on third-party custodians.

What is still unclear

Grayscale did not say how much demand it expects for the in-kind route, and the reports give no subscription totals.
The reports do not detail how each product's minimum is set or how often it is reset as prices change.

Questions readers ask

What is Grayscale's in-kind investing service?

It lets eligible investors exchange supported cryptocurrencies directly for shares in 10 Grayscale products without first converting holdings to cash. Customers must go through authorized participants or approved intermediaries.

Which coins does Grayscale accept in-kind?

The service covers Bitcoin, Ethereum, Solana, XRP, Dogecoin, Avalanche, Chainlink, Hyperliquid, Sui and Zcash.

What is the minimum investment?

Minimums range from about $80,300 for the Solana Staking ETF to $364,800 for the Bitcoin Mini Trust. Dogecoin requires about $95,550, XRP about $257,000 and Zcash about $322,600.

Why did Grayscale launch this now?

The rollout follows the SEC's July 2025 approval of in-kind creations and redemptions for crypto exchange-traded products. It also follows Grayscale's earlier Zcash ETF launch.