- Grayscale launched its multi-asset crypto fund, the CoinDesk Crypto 5 ETF (GDLC), on the New York Stock Exchange.
- The GDLC ETF provides investment exposure to Bitcoin, Ethereum, Solana, XRP, and Cardano.
- The fund aims to give investors access to roughly 90% of the overall crypto market in a single product, according to CEO Peter Mintzberg.
- Trading for GDLC began with a modest increase, reflecting overall flat cryptocurrency market conditions.
- Grayscale has a history of launching major cryptocurrency investment products and continues to advocate for regulatory clarity in the U.S.
Grayscale initiated trading of its multi-asset crypto fund, the CoinDesk Crypto 5 ETF (GDLC), on the New York Stock Exchange (NYSE) on Friday. The move provides U.S. investors a new way to access multiple leading cryptocurrencies through a single exchange-traded product.
The GDLC ETF tracks the top five cryptocurrencies by market capitalization: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Ripple’s XRP (XRP), and Cardano (ADA). This fund launched with a minor gain of 0.09% in Friday morning trading. According to Grayscale CEO Peter Mintzberg, GDLC offers exposure to approximately 90% of the crypto market in one fund.
“With GDLC, the first U.S. diversified crypto index ETP, investors can now gain exposure to 90% of the crypto market in one ticker,” said Mintzberg. He noted that the listing continues the company’s record of innovation in digital asset investment products.
The ETF is designed to help investors diversify their crypto holdings by using a single security, reducing the complexity of investing in multiple assets individually. Previously known as the Grayscale Digital Large Cap Fund, the product had already begun trading on NYSE Arca in September before being listed on the main exchange.
Grayscale also manages sizeable crypto investment products such as the Grayscale Bitcoin Trust (GBTC) and the Grayscale Ethereum Trust (ETHE), overseeing billions of dollars in managed assets. The GDLC listing highlights the company’s role in expanding regulated crypto investment options and its ongoing push for clearer guidelines in the U.S. crypto market.
For details on the official announcement, see the statement from Grayscale CEO Peter Mintzberg.
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