According to a Friday announcement by the investment platform Grayscale, which specializes in digital assets, their GDLC is now trading on NYSE Arca. The firm characterized it as the first exchange-traded product (ETP) in the U.S. market to feature more than two distinct cryptocurrencies.
GDLC provides investors with access to the top five cryptocurrencies by market capitalization. This includes Bitcoin, Ether, XRP, Solana, and Cardano. The announcement stated that this single investment offers exposure to 90% of the cryptocurrency market, as of Friday.
The fund’s composition will be adjusted every quarter to accurately reflect the leading digital assets. It will follow the CoinDesk 5 Index from CoinDesk Indices, according to the official release.
Previously known as the Grayscale Digital Large Cap Fund, GDLC initially launched in 2018 before transitioning to its current multi-asset crypto ETP structure, the release noted.
Grayscale’s CEO, Peter Mintzberg, stated in the announcement, “The Grayscale CoinDesk Crypto 5 ETF is a direct response to investor demand for diversified crypto exposure that has been growing for close to a decade. Increasingly, investors are choosing ETPs as their preferred method for crypto exposure. GDLC is specifically designed to meet that demand, offering straightforward and transparent access to the largest and most liquid cryptocurrencies.”
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Mintzberg also shared on social media platform X, in a post dated Wednesday, September 17th, that GDLC had received the necessary approvals for trading.
“The Grayscale Digital Large Cap Fund $GDLC has been approved for trading, along with the Generic Listing Standards,” Mintzberg posted. “The Grayscale team is working hard to launch the *FIRST* multi #crypto asset ETP to market, featuring Bitcoin, Ethereum, XRP, Solana, and Cardano.”
Grayscale Digital Large Cap Fund $GDLC was just approved for trading along with the Generic Listing Standards. The Grayscale team is working expeditiously to bring the *FIRST* multi #crypto asset ETP to market with Bitcoin, Ethereum, XRP, Solana, and Cardano#BTC #ETH $XRP $SOL…
— Peter Mintzberg (@PeterMintzberg) September 17, 2025
On Wednesday, the Securities and Exchange Commission (SEC) gave the green light for the listing and trading of the Grayscale Digital Large Cap Fund. The SEC also approved amendments proposed by three national securities exchanges regarding generic listing standards for exchange-traded products holding digital assets and other spot commodities.
Paul S. Atkins, Chairman of the SEC, remarked in a Wednesday press release, “By adopting these generic listing standards, we are ensuring that our capital markets maintain their leading position in the world for fostering innovation in digital assets.”
Following the SEC’s issuance of guidance in July concerning disclosures for crypto-based ETPs, reports indicated a widespread expectation for a surge in approvals for crypto exchange-traded funds.