Overview

• The SEC approved Grayscale’s Digital Large Cap Fund (GDLC) for listing on NYSE Arca under newly adopted generic listing standards designed to speed crypto ETP approvals.
• GDLC bundles five major tokens—bitcoin, ether, XRP, Solana and Cardano—and reports roughly $1 billion in assets under management.
• Current allocations are about 72% bitcoin, 17% ether, 5.62% XRP, 4.03% Solana and 1% Cardano, following a recent trim to GDLC’s bitcoin weight.
• Bloomberg ETF analyst Eric Balchunas said past precedent suggests the rule change could drive a surge of launches, potentially topping 100 crypto ETFs over the next year.
• The decision follows a July postponement for deeper review, and Grayscale CEO Peter Mintzberg publicly welcomed the approval as the company advances additional altcoin ETF efforts.