Grayscale’s Crypto Large Cap Fund Approved by SEC for NYSE Listing

Grayscale has achieved a significant milestone as the US SEC approved its crypto large-cap fund (GDLC), which will hold major digital assets like Bitcoin, Ethereum, XRP, Solana, and Cardano. This fund is set to debut on the NYSE Arca.

Key Details:

The GDLC fund's portfolio: Bitcoin 72%, Ethereum 17%, XRP 5.62%, Solana 4.03%, Cardano 1%.
Grayscale CEO Peter Mintberg confirmed the approval for trading along with Generic Listing Standards.
Nate Geraci acknowledged Grayscale's role in advancing crypto ETFs, suggesting this approval could lead to more multi-asset crypto ETFs from other managers.
Earlier delays by the SEC were due to additional review needs, but new Generic Listing Standards may streamline future processes.

Grayscale Crypto Large Cap Fund | Source: Grayscale

Future Plans:

Grayscale is also pursuing spot ETFs for emerging assets like Chainlink and Avalanche.
A Form S-1 has been filed to convert the Chainlink Trust into an ETF under the ticker GLNK.