The SEC has approved Grayscale's application to convert its Digital Large Cap Fund, which primarily focuses on Bitcoin, into an exchange-traded fund (ETF). This fund also includes major cryptocurrencies such as Ethereum, Solana, XRP, and Cardano. With Bitcoin and Ethereum comprising approximately 90% of the fund's assets, Grayscale now positions itself to offer a comprehensive crypto investment option. The ETF will be traded as GDLC on NYSE Arca and is modeled on the CoinDesk 5 Index. Analysts expect a wave of crypto ETF approvals in the latter half of 2025, reflecting the SEC's increasing receptiveness to funds focusing on established cryptocurrencies. Grayscale's legal efforts previously led to significant changes in ETF regulations, culminating in the current approval, which follows years of the SEC rejecting similar applications. As of now, Bitcoin trades at around $106,000, while Ethereum is approximately $2,400. Grayscale has indicated that around 11% of the ETF's assets will be in Ethereum, with smaller allocations in Solana, XRP, and Cardano.

Source đź”—