Product Becomes the World’s Largest Multi-Token Digital Asset ETF
The U.S. Securities and Exchange Commission (SEC) has approved the conversion of Grayscale’s Digital Large Cap Fund (GDLC) into a spot Exchange-Traded Fund (ETF), according to regulatory filings.
The fund tracks the price performance of Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). Approximately 80% of the fund’s holdings are allocated to Bitcoin, with the remainder distributed among other major cryptocurrencies.
Key Features:
- Benchmark: Tied to the CoinDesk 5 Index (CD5).
- Launch Date: Originally established in February 2018.
- Assets Under Management (AUM): Nearly $755 million.
- Expense Ratio: 2.5%.
Andy Baehr, Head of Product and Research at CoinDesk Indices, stated:
"This SEC approval marks a pivotal moment for investors seeking diversified exposure to top-tier digital assets through a single, regulated product."
Baehr emphasized that the ETF will be the largest multi-token digital asset ETF globally, offering unparalleled liquidity and accessibility.
Competitive Landscape:
- Bitwise’s Pending Approval: The SEC is next expected to rule on Bitwise’s proposal to convert its Bitwise 10 Crypto Index Fund (BITW) into an ETF. BITW’s holdings include BTC (79%), ETH, XRP, SOL, ADA, and smaller allocations to Sui (SUI), Chainlink (LINK), Avalanche (AVAX), Litecoin (LTC), and Polkadot (DOT).
👉 Explore Crypto ETF Strategies
FAQs
1. What cryptocurrencies are included in Grayscale’s new ETF?
The ETF covers BTC, ETH, SOL, XRP, and ADA, with Bitcoin dominating 80% of the fund.
2. How does this ETF compare to Bitwise’s proposed fund?
Bitwise’s BITW ETF (if approved) will include 10 cryptocurrencies, with a heavier focus on altcoins like SUI and LINK.
3. What is the expense ratio for Grayscale’s ETF?
2.5%—higher than many traditional ETFs but competitive within crypto-focused products.
4. Why is the CoinDesk 5 Index significant?
It serves as the benchmark, ensuring transparency and alignment with top-performing digital assets.
👉 Stay Updated on Crypto Regulation
Note: All hyperlinks except OKX have been removed per guidelines.