Grayscale Investments has received approval from the US Securities and Exchange Commission (SEC) to launch the country’s first exchange-traded fund offering exposure to multiple cryptocurrencies.
The Grayscale CoinDesk Crypto 5 ETF (GDLC) started trading on Friday on NYSE Arca, tracking Bitcoin, Ethereum, XRP, Solana, and Cardano.
The five tokens represent more than 90% of the digital-asset market’s capitalization, according to Grayscale.
The SEC approval allowed Grayscale to convert its long-running Digital Large Cap Fund, previously traded over the counter, into a regulated ETF that bundles multiple digital assets under one product.
The fund allocates about 70% to 72% to Bitcoin, 17% to 20% to Ethereum, and the remainder to XRP, Solana, and Cardano. GDLC currently manages more than $915 million in assets.
Grayscale CEO Peter Mintzberg confirmed the approval on X (formerly Twitter), thanking the SEC’s Crypto Task Force for providing regulatory clarity that paved the way for the product.
“We are ushering in the age of crypto index investing. We are typically in the first mover position. Grayscale will continue innovating at scale for investors to access the fastest growing asset class of the last 10 years,” Mintzberg told CNBC.
The SEC’s decision comes alongside the agency’s adoption of new generic listing standards for crypto ETFs, aimed at accelerating future approvals.
GDLC has gained more than 40% so far in 2025, outperforming Bitcoin by nearly 11% since June as the other four assets in the basket outpaced the largest digital token.