Grayscale has made history in the U.S. financial markets with the approval of its Digital Large Cap Fund (GDLC) as an exchange-traded fund (ETF), now officially holding a diversified basket of five leading cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA) . This move, greenlit by the U.S. Securities and Exchange Commission (SEC), marks a significant step forward for crypto accessibility and mainstream adoption.
Unlike previous crypto ETFs that focused solely on Bitcoin or Ethereum, the new GDLC ETF offers investors a single product that tracks a broader slice of the digital asset market. As of late June, the fund managed nearly $762 million in assets, with allocations heavily weighted toward Bitcoin (about 80,8%), followed by Ethereum (11,07%), and smaller but notable shares in XRP (4,63%), Solana (2,75%), and Cardano (0,75%) .
This approval signals a shift in regulatory attitudes. The SEC’s decision not only reflects growing comfort with digital assets but also sets a precedent for future multi-asset crypto ETFs. It could pave the way for single-asset spot ETFs for coins like XRP, Solana, and Cardano, which are now cleared for spot trading in the U.S. for the first time .
For investors, the GDLC ETF means easier access to a diversified crypto portfolio through traditional brokerage accounts, without the need to manage wallets or private keys. The move is expected to attract more institutional capital, deepen market liquidity, and encourage further innovation in crypto investment products .
The SEC is also considering streamlining the ETF approval process by potentially removing the 19b-4 rule-change requirement, which could accelerate the launch of future crypto funds and reduce regulatory bottlenecks. This evolving framework is likely to benefit not just Grayscale, but also other major players like Bitwise and Hashdex, who are seeking to expand their own crypto index offerings.
As the regulatory landscape evolves, Grayscale’s GDLC ETF stands as a milestone for both the crypto industry and traditional finance, offering a new level of exposure and legitimacy for digital assets in the U.S. market.
