Grayscale has officially launched a new crypto ETF called GDLC, short for Grayscale Digital Large Cap Fund. This fund is different from anything else on the market because it gives investors access to a group of major cryptocurrencies all in one go. That makes it the first index-based spot crypto ETF in the United States.
Instead of focusing on just one coin like most crypto ETFs, GDLC includes a mix of five digital assets. These are Bitcoin, Ethereum, Solana, XRP, and Cardano. Bitcoin has the largest share, with the others taking up smaller portions. This kind of setup is designed to reflect which coins are most dominant in the market by size and activity.
Introducing Grayscale CoinDesk Crypto 5 ETF (Ticker: $GDLC), our newest fund tracking the 5 most established (largest and most liquid) cryptocurrencies.¹ $GDLC offers broad exposure to the crypto asset class while focusing on the most current market leaders #Bitcoin, #Ethereum,… pic.twitter.com/ev1t7aSjyP
— Grayscale (@Grayscale) September 19, 2025
Until now, most spot crypto ETFs have only focused on individual tokens. If you wanted exposure to more than one, you had to buy each one separately or rely on other types of funds that didn’t directly hold the coins. This fund changes that. With GDLC, you can now get a broad slice of the crypto market in one place, and that can save time, reduce hassle, and help manage risk.
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GDLC tracks an index, meaning it follows a fixed list of cryptocurrencies based on market performance and size. The fund is built to hold these actual assets, not futures contracts or synthetic products. That makes it a spot ETF, a more straightforward way to invest. It also updates its holdings as the market shifts, keeping the fund aligned with top assets over time.
The biggest difference here is that it combines several leading cryptocurrencies into a single regulated product. This is the first time U.S. investors have had access to a spot ETF with a diversified crypto mix. That gives the fund a unique position in a space where most products still focus on just Bitcoin or Ethereum. It also reflects growing demand for more complete exposure to the digital asset space.
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Crypto is known for being unpredictable. Even though GDLC is diversified, all five coins in the fund can still move sharply in either direction. Investors will also be paying close attention to how well the fund tracks its index and how it performs compared to direct holdings. Other concerns might include fees, liquidity, and whether the fund stays transparent and efficient over time.
With this launch, Grayscale has opened the door for more innovation in crypto investing. If GDLC proves successful, other firms may follow with similar products. For now, this gives investors a new way to access the crypto market in a format that is easier to manage, more diversified, and backed by real holdings. It will be worth watching how the market responds in the weeks ahead.
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