SEC Approves Conversion of Grayscale’s Digital Large Cap Fund to ETF
The SEC has approved the conversion of Grayscale’s Digital Large Cap Fund (GDLC) into a spot ETF. Key details include:
- Fund tracks prices of BTC, ETH, XRP, SOL, and ADA.
- Approximately 80% of the fund is currently in bitcoin.
- GDLC launched in February 2018, with nearly $755 million in assets under management.
- Expense ratio is 2.5%.
Bitwise is awaiting a decision from the SEC regarding its Bitwise 10 Crypto Index Fund (BITW), which holds 79% in bitcoin and includes other cryptocurrencies like ETH, XRP, SOL, ADA, SUI, LINK, AVAX, LTC, and DOT.