SEC Approves Grayscale ETF That Includes BTC, ETH, SOL, XRP, ADA
2025-07-01 19:17:03
Main Idea
The SEC has approved Grayscale's Digital Large Cap Fund (GDLC) to convert into a spot crypto ETF, which will track the price of bitcoin and become the largest multi-token digital asset ETF.
Key Points
1. The SEC approved Grayscale's Digital Large Cap Fund (GDLC) to convert into a spot crypto ETF, with the majority of its weight (about 80%) in bitcoin.
2. The fund, benchmarked to the CoinDesk 5 Index, has attracted nearly $755 million in assets under management and has a 2.5% expense ratio.
3. CoinDesk Indices head of product and research Andy Baehr stated that the fund will become the largest multi-token digital asset ETF.
4. Bitwise is next in line for SEC approval to convert its Bitwise 10 Crypto Index Fund (BITW) into an ETF, which holds 79% in bitcoin and the rest in ether, XRP, SOL, ADA, and Sui.
Description
The Securities and Exchange Commission (SEC) has approved the conversion of Grayscale’s Digital Large Cap Fund (GDLC) into a spot exchange-traded fund (ETF), a filing shows. The fund tracks the price of bitcoin BTC, ethereum ETH, XRP XRP, Solana SOL and Cardano ADA. The majority of the fund’s weight, currently about 80%, is in bitcoin. The SEC's letter on Tuesday noted that the fund consisted of the CoinDesk 5 Index (CD5). GDLC was launched in February 2018 and has since attracted nearly $755 mi...
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