Tomorrow, a first is being prepared to be achieved in the digital asset market.
Grayscale CEO Peter Mintzberg announced that the Grayscale Digital Large Cap Fund (GDLC) has been approved for public listing and will trade under the SEC’s recently approved Generic Listing Standards.
The new product will be the first multi-cryptoasset exchange-traded product (ETP) featuring Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). Bloomberg analyst James Seyffart announced that GDLC will list on the New York Stock Exchange (NYSE Arca) tomorrow and convert to an ETF format. The fund will also be renamed to track a CoinDesk index.
“Yesterday’s approval of the general listing standards for crypto ETPs was a major development. Grayscale’s GDLC ETF conversion was also approved and the stop order was lifted,” Seyffart said.
The Grayscale team states that it is working rapidly to launch the fund. The GDLC ETF is expected to offer investors diversified cryptocurrency exposure in a traditional ETF format, with a structure comprising five large, liquid crypto assets.
*This is not investment advice.