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Anjali Belgaumkar
Anjali Belgaumkar
Author
Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.
- Apr 02, 2025 03:43 UTC
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Grayscale Files S3 for Crypto ETF Featuring XRP and Trump’s Top Crypto Picks
Grayscale files an updated S-3 for its GDLC ETF, aiming to list on NYSE Arca pending SEC approval. Decision expected by July 2.
The GDLC ETF offers diversified exposure to BTC, ETH, SOL, ADA, and XRP, catering to growing demand for crypto index funds.
Grayscale has recently filed an updated S3 registration statement for its Digital Large Cap Exchange-Traded Fund (ETF). This fund is designed to offer diversified exposure to a broad range of cryptocurrencies, including major altcoins like Ethereum (ETH), Solana (SOL), Cardano (ADA), and XRP.
NYSE Arca’s 19b-4 Application and SEC Review Process
As part of this initiative, NYSE Arca submitted a separate 19b-4 application on October 15, 2024, to list shares of the Grayscale Digital Large Cap ETF (GDLC). This application is currently under review by the U.S. Securities and Exchange Commission (SEC), with key deadlines approaching. The SEC has set an initial decision deadline for May 3, with a final ruling expected by July 2.
“Today, we filed a registration statement on Form S-3 to register shares of Grayscale Digital Large Cap Fund (ticker: GDLC) under the Securities Act of 1933. This is another important step toward uplisting GDLC as an ETP. GDLC holds the top 5 crypto assets by market cap,” Grayscale wrote on X.
Grayscale has made it clear that it will not move forward with the ETF’s launch unless it receives SEC approval for the NYSE Arca listing. The GDLC fund’s composition includes Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA)—the very same digital assets once mentioned by President Donald Trump as potential components of a “digital asset stockpile.”
The Growing Demand for Crypto Index ETFs
The concept of index ETFs, which has already proven successful with traditional markets like the NASDAQ and S&P 500, is gaining traction in the crypto world. Investors are increasingly drawn to these funds for their ability to provide diversification without the need to manage individual assets. Grayscale’s approach aims to capitalize on this trend by offering a simple, efficient way for both retail and institutional investors to gain exposure to the top-performing digital assets.
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FAQs
Yes, Grayscale converted its GBTC trust into a spot Bitcoin ETF after gaining SEC approval in early 2024.
You can buy GBTC on major stock exchanges like NYSE and Nasdaq via brokerage accounts, just like traditional ETFs.
Yes 
No 
