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.
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 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.
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.
The Sui network has attracted significant investment from institutional investors seeking to capitalize on its…
Technical analysis shows that the Dogecoin price is poised to gain 33% to 23 cents…
The AT&T subscribers can connect to Helium’s community-built Wi-Fi network. The Helium network has grown…
The crypto markets are experiencing a powerful bullish wave, highlighted by Bitcoin’s breakout and a…
The recent rise in the bullish momentum has elevated the markets above the bearish captivity…
The PayPal USD (PYUSD) stablecoin is fast approaching the $1 billion market cap milestone. The…
