Grayscale says they want to make Filecoin Trust an analogue to a public company

2 min readMay 19, 2023


The SEC believes that Grayscale should withdraw its application to launch the Filecoin Trust fund because the Filecoin token may be a security. The company filed an application to launch Filecoin Trust in early April.

As Grayscale noted, if the US Securities and Exchange Commission gives its approval, Filecoin Trust will be analogous to a public company with quarterly publication of reports. However, the SEC still believes that the FIL crypto coin “meets the definition of a security.”

Grayscale disagrees with this opinion and claims that Filecoin is not a security.

“Grayscale does not believe that FIL is a security under federal law and intends to clarify its legal position with the SEC in the near future,” the company said in a statement.

Grayscale also stated that if the regulator does not agree with the company’s point of view, it will be forced to close the Filecoin Trust.

We would like to remind the readers that at the beginning of 2021, Grayscale Investments formed 6 new trusts for various coins, including LINK and XTZ.

“Grayscale is always looking for new opportunities and creating new products to meet customer demand. Often we make applications for the creation of a new product in advance, but we do not always bring it to the market. We will, of course, officially announce when the new products become available to investors,” a company spokesman said at the time.

And recently, the crypto fund management company announced the launch of three more exchange-traded funds. The Global Bitcoin Composite ETF was created to place funds in exchange-traded assets that are associated with BTC or backed by the first digital coin. The Ethereum Futures ETF will invest in ETH-related products. But the Grayscale Privacy ETF will invest in projects working in the blockchain industry.

“We are pleased to announce the launch of the Grayscale Funds Trust. This will be a Delaware trust structure that will enhance our ability as a global asset management company,” the company said in a statement.