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12h ago

Grayscale’s GDLC Starts Trading as First U.S. Multi‑Crypto ETP on NYSE Arca

The debut follows the SEC’s adoption of generic listing standards expected to accelerate a wave of new crypto ETFs.

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Grayscale's Digital Large Cap Fund approved for trading with new listing standards
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Overview

  • GDLC began trading on Sept. 19 after a Sept. 18 SEC approval, becoming the first U.S. exchange‑traded product to bundle multiple cryptocurrencies.
  • The fund recorded nearly $22 million in first‑day volume with 381,298 shares traded, launched with roughly $915–$931 million in assets and a NAV around $57.70–$58 per share.
  • Holdings are spot positions in Bitcoin, Ether, XRP, Solana and Cardano, weighted about 72%, 17%, 5.6%, 4% and 1%, respectively.
  • GDLC tracks the CoinDesk 5 Index, excludes stablecoins and memecoins, and rebalances quarterly to maintain exposure to the most liquid large‑cap assets.
  • The SEC had delayed the uplisting in July but approved it on an accelerated basis alongside new listing standards that streamline approvals across major exchanges, with analysts projecting dozens to over 100 crypto ETFs to follow.