The move comes as the world's largest asset manager has seen "substantial interest" from some institutional clients despite the digital asset market's recent downturn.
A new breed of ETF debuted on the U.S. markets earlier this month when AXS Investments launched eight funds offering daily leveraged bull and bear bets on the direction of single companies.
Grayscale investments has filed for a petition for review, arguing that the Securities and Exchange Commission is "acting arbitrarily and capriciously."