The approval makes it the first vehicle of its kind to bundle several major cryptocurrencies into a single listed fund.
The newly approved ETP, known as GDLC, will track five of the sector’s largest digital assets: bitcoin, ether, XRP, Solana and Cardano. With nearly $1 billion already under management and a share value of about $57.7, the fund represents one of the most significant attempts yet to bring diversified crypto exposure to traditional markets.
Grayscale chief Peter Mintzberg hailed the decision on social platform X, describing it as a step toward long-awaited regulatory clarity. He credited the SEC’s internal crypto task force for moving the process forward after months of delay. The agency had previously postponed its verdict in July, opting for a deeper review before granting a listing on NYSE Arca.
What makes this approval even more notable is that it came alongside a broader policy change. The SEC adopted new listing standards designed to fast-track crypto ETF applications. Regulators say the changes will lower barriers and expand investor choice, signaling a more open stance toward digital asset funds.
Market watchers believe this shift could ignite a flood of new products. Bloomberg’s senior ETF analyst Eric Balchunas pointed out that when similar standards were introduced in the past, the number of fund launches more than tripled. He suggested that over 100 crypto ETFs might come to market within the next year.
For Grayscale, the nod from regulators cements its role as a leading force in digital asset investment. For the wider industry, it may be remembered as the moment when multi-asset crypto funds truly entered the mainstream.
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