The digital asset management company, Grayscale Investments, marked a major milestone on Friday by ringing the opening bell at the New York Stock Exchange (NYSE) Arca. This was to celebrate the listing of its new multi-asset cryptocurrency exchange-traded funds (ETFs).
In an X post, the big announcement was made that Grayscale, in collaboration with Coindesk Indices, was listed on NYSE Arca with the ticker symbol of GDLC. This Grayscale Coindesk Crypto 5 ETF offers investors diversified exposure to key digital assets, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Cardano (ADA).
The move marks the first investment fund in the US that offers exposure to the largest crypto ETFs through a single stock-like security, without having to store or buy these assets directly. This strategy is designed to simplify crypto investing for traditional participants.
According to a Grayscale blog post, the ETF aims for its share value based on Net Asset Value (NAV) to mirror the performance of the underlying digital assets. This will be calculated by looking at the official market prices of the listed cryptocurrencies and the fund’s weightings.
Grayscale Digital Large Cap Fund LLC is currently priced at $53.36 with a daily trading volume of 72,745. This ETF covers 90% of the crypto market, pushing the market cap to $846.5 million.
Grayscale CEO, Peter Mintzberg, said the firm will continue to expand its leadership in digital assets investment products.
“We’re LIVE at the NYSE, ringing the Opening Bell for $GDLC as we usher in the age of crypto index investing. I’m proud of what this team has accomplished together. This marks yet another first for Grayscale, and it certainly won’t be our last,” he added.
In its announcement of crypto 5 ETF listings, Grayscale explicitly pointed out all the risks associated with the investment. It noted that extreme volatility in trading prices could materially affect the performance of GDLC. The firm cautioned that large-scale sales or distributions by major holders could lead to sharp declines in market value.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Ferrari is shifting gears into the crypto world. The Italian luxury carmaker is launching a…
Story Highlights The Jupiter price today is . The JUP price could hit a high…
BONK has been catching attention in the crypto world today, with traders and investors reacting…
Tether, the company behind the world’s largest stablecoin USDT, is seeing rapid growth and attracting…
Crypto chatter is heating up again as the weekend kicks off, and data from on-chain…
Over the past week, I’ve watched Jupiter command headlines as its price has gained nearly…
