Users of the UST would be rewarded, beginning with the "smallest holders first," according to LFG, who added that the exact distribution mechanism to be employed is still being considered.

The statement was made in a forum where LFG also revealed further information about its remaining reserves. BTC 313 (USD 9.26 million) and BNB 39,914 (USD 11.74m) were said to be among the reserves as of Monday.

Related Post:Terra (LUNA) drops 95%

A greater holding of UST is also included, with a market worth of more than USD 180 million based on an (optimistic) price of USD 0.10 per UST.

According to LFG, all other assets — close to USD 4 billion in digital assets owned by LFG before the UST's crash – have been used to protect the UST peg.

However, as several analysts have highlighted, LFG has yet to present clear proof that the more than USD 3 billion was spent on protecting the peg:

Traders expect the worst selling pressure for the number one cryptocurrency has passed, with only BTC 313 allegedly surviving LFG's once-massive bitcoin stack.

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Grayscale opens ETF in Europe

Grayscale, crypto investing firm, is expanding its activities in Europe by introducing a new crypto-linked exchange-traded fund (ETF).

On Monday, Grayscale unveiled its first European ETF, the Grayscale Future of Finance UCITS ETF. Grayscale confirmed to Cointelegraph that the ETF would start operating on Tuesday.

The London Stock Exchange, Borsa Italiana, and Deutsche Börse's electronic trading platform Xetra are among the European stock exchanges that will offer the new investment option. The ETF will be passported for sale across Europe and trade under the ticker name GFOF.

The Bloomberg Grayscale Future of Finance Index is tracked by GFOF UCITS ET, created in collaboration with Bloomberg. Bloomberg and Grayscale jointly launched the index in January 2022 to track the digital economy and focused on the three primary areas of technology, finance, and digital assets.

According to the statement, the new ETF comprises firms directly involved in bitcoin mining, energy management, and other operations in the digital asset ecosystem. As per the fund's official website, the ETF monitors companies such as Robinhood, a crypto-friendly trading program, PayPal, Block, Coinbase, Canaan, and others.

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Grayscale's global head of ETFs, David LaValle, remarked, "Through GFOF UCITS ETF, European investors now have the chance to get access to firms that are crucial to the future of the global financial system."

The new investment product was also developed in collaboration with Europe's white-label issuer, HANetf. The issuer is renowned for working with businesses like ETC Group on blockchain ETFs.

Related Post:Grayscale creates a smart contract platform fund

According to a Grayscale representative, the new ETF launch represents a significant achievement for the company's development and the digital asset ecosystem.