Key Notes
- Grayscale’s GDLC fund has begun trading on the NYSE Arca, becoming the first multi-asset crypto ETP available in the United States.
- The ETP tracks five major assets, with a portfolio heavily weighted toward Bitcoin (72%) and Ethereum (17%) to reflect the current market.
- The launch marks a new step for regulated crypto products, offering investors diversified exposure beyond existing single-asset Bitcoin and ETH ETFs.
Following its SEC approval a day earlier, Grayscale Investments launched the first multi-asset crypto exchange-traded product (ETP) in the US on Sept. 19, with its Grayscale CoinDesk Crypto 5 ETF (GDLC) now trading on the NYSE Arca.
The fund offers investors simplified exposure to a basket of five major digital assets, tracking the performance of Bitcoin
BTC
$115 891
24h volatility:
1.5%
Market cap:
$2.31 T
Vol. 24h:
$36.58 B
, Ethereum
ETH
$4 497
24h volatility:
2.3%
Market cap:
$543.03 B
Vol. 24h:
$26.86 B
, XRP
XRP
$3.01
24h volatility:
3.6%
Market cap:
$180.09 B
Vol. 24h:
$5.40 B
, Solana
SOL
$240.0
24h volatility:
3.2%
Market cap:
$130.59 B
Vol. 24h:
$8.74 B
, and Cardano
ADA
$0.90
24h volatility:
2.4%
Market cap:
$32.82 B
Vol. 24h:
$2.19 B
.
According to an official announcement from Grayscale, the fund is designed to provide investors with broad access to the digital asset market in the form of a security. The product, formerly known as the Grayscale Digital Large Cap Fund, tracks the CoinDesk 5 Index and covers over 90% of the crypto market’s capitalization. Grayscale CEO Peter Mintzberg called the listing a “historic milestone” that meets growing investor demand for diversified crypto exposure.
The fund’s portfolio is heavily weighted toward Bitcoin, which makes up over 72% of its holdings. The remaining assets include Ethereum at roughly 17%, with smaller allocations distributed among large-cap projects, specifically XRP, Solana, and Cardano. According to Grayscale, the fund is rebalanced quarterly to ensure it stays aligned with the largest and most liquid assets in the crypto market.
Fund Composition Reflects Market Dynamics
The structure of the GDLC fund reflects the current dynamics of the crypto market, where Bitcoin maintains a dominant position. With over 72% of the fund allocated to Bitcoin, the ETP is heavily anchored to the industry’s primary asset.
Ethereum holds a significant but secondary position at roughly 17%, while the remaining allocation is distributed among other large-cap projects, including Solana, XRP, and Cardano. This weighting provides investors with a product that is heavily exposed to the market leader while still offering a small, diversified stake in prominent altcoins.
The arrival of a multi-asset fund follows the successful launch of single-asset exchange-traded funds for the two largest cryptocurrencies. The successful rollout of these single-asset funds has led to massive Bitcoin ETF inflows, with the products accumulating over $151 billion in total net assets and daily trading volumes often exceeding $3.6 billion, according to CoinGlass ETF Data.
Following them, the Ethereum ETFs also established a strong market presence, gathering over $24 billion in assets under management.
Initial community reaction on X (formerly Twitter) has been positive, though it is still in the early stages. The early commentary has largely focused on the inclusion of specific altcoins like XRP and Cardano, with supporters viewing the move as a significant development for their respective assets.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
As a Web3 marketing strategist and former CMO of DuckDAO, Zoran Spirkovski translates complex crypto concepts into compelling narratives that drive growth. With a background in crypto journalism, he excels in developing go-to-market strategies for DeFi, L2, and GameFi projects.
Zoran Spirkovski on X
Source: https://www.coinspeaker.com/grayscale-gdlc-first-multi-asset-etp-us/
