The U.S. Securities and Exchange Commission (SEC) has approved Grayscale’s multi-crypto fund offering exposure to Bitcoin, Ethereum, XRP, Solana, and Cardano.
A major development for the crypto market has emerged. Grayscale CEO Peter Mintzberg announced on X that the SEC has officially approved the Grayscale Digital Large Cap Fund (GDLC), making it the first multi-crypto product to trade on NYSE Arca.
The fund will provide investors with a diversified portfolio including Bitcoin, Ethereum, XRP, Solana, and Cardano. According to Grayscale’s official data, GDLC currently manages over $915 million in assets with a net asset value per share of $57.7. Mintzberg emphasized that the SEC’s decision brings much-needed regulatory clarity to the crypto industry.
The approval coincided with the SEC’s announcement of new listing standards designed to fast-track crypto ETF launches. Bloomberg senior ETF analyst Eric Balchunas noted that similar rules in the past had tripled ETF numbers and predicted that more than 100 new crypto ETFs could launch within the next 12 months. The GDLC approval stands out particularly for including altcoins, positioning Grayscale as a key player in this evolving market.
