Grayscale’s Multi-Crypto ETF Approved by SEC — BTC, ETH, SOL, XRP, ADA Included

In a major development for the crypto investment landscape, the U.S. Securities and Exchange Commission (SEC) has officially approved Grayscale’s request to convert its Digital Large Cap Fund (GDLC) into a spot exchange-traded fund (ETF). 

This marks a historic milestone, not only for Grayscale but also for the broader crypto market, as the fund will now offer diversified exposure to the five most prominent cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Cardano (ADA).

The ETF, benchmarked to the CoinDesk 5 Index (CD5), positions itself as the largest multi-token digital asset ETF globally, catering to institutional and retail investors seeking simplicity and liquidity in crypto allocation.

SEC Greenlights Grayscale’s Multi-Crypto ETF

According to the latest filing, the newly approved ETF reflects roughly 80% exposure to Bitcoin, with the remainder allocated across Ethereum, Solana, XRP, and Cardano. 

This diversified structure aligns with the CoinDesk 5 Index, offering investors access to the most liquid and influential digital assets through a single, regulated financial instrument.

Grayscale’s GDLC, originally launched in 2018, had accumulated nearly $755 million in assets under management before the ETF conversion. With a 2.5% expense ratio, the fund will now transition to an exchange-traded format, making it more accessible and transparent for public investors.

Andy Baehr, Head of Product and Research at CoinDesk Indices, expressed enthusiasm: “We are thrilled to see SEC approval, paving the way for this Grayscale fund, benchmarked to the CoinDesk 5 Index, to be uplisted as an ETF. It allows investors and advisors to capture the largest and most liquid digital assets in a single product.”

Read Also: Plans for Bitcoin ETF, Japan Proposes Crypto Tax Reforms

What Makes This ETF Important?

The approval signals a turning point in the regulatory outlook toward diversified crypto investment products. 

While the SEC has previously approved spot Bitcoin ETFs, this is one of the first that offers exposure to multiple top-tier cryptocurrencies under a single umbrella.

This move also reflects growing investor demand for simplified access to the crypto market without the need to manage multiple wallets or individual tokens. 

It provides an efficient way to participate in the growth of the crypto sector while minimizing some of the complexities and risks associated with direct token ownership.

Read Also: Dogecoin ETF in the Pipeline: Bitwise Seeks SEC Approval with New Filing

What’s Next for the Crypto ETF Landscape?

Grayscale's success may open the door for similar products. Bitwise is currently awaiting SEC approval to convert its Bitwise 10 Crypto Index Fund (BITW) into an ETF. 

BITW holds a similar mix, with significant weight in BTC and ETH alongside newer entrants like Sui (SUI), Chainlink (LINK), Avalanche (AVAX), Litecoin (LTC), and Polkadot (DOT).

As the regulatory environment continues to evolve, the approval of multi-crypto ETFs could dramatically reshape how institutional capital flows into the digital asset space.

Read Also: Grayscale’s Crypto ETF Wins SEC Approval: A Game-Changer for Digital Assets

Conclusion

Grayscale’s newly approved multi-crypto ETF is more than just a financial product—it represents the growing legitimacy and maturity of the crypto industry. 

With BTC, ETH, SOL, XRP, and ADA now accessible through a single regulated ETF, investors have a new tool to diversify their portfolios and navigate the fast-paced world of digital assets.

The SEC’s approval is not just a win for Grayscale but a broader vote of confidence in crypto as a mainstream investment category. As traditional finance and digital assets continue to converge, products like this ETF may well define the future of investing.

FAQ

What is Grayscale's multi-crypto ETF?

It is a spot ETF approved by the SEC that offers exposure to BTC, ETH, SOL, XRP, and ADA through the CoinDesk 5 Index.

How much of the ETF is allocated to Bitcoin?

Approximately 80% of the ETF is currently weighted in Bitcoin, with the rest divided among ETH, SOL, XRP, and ADA.

What is the expense ratio of the ETF?

The ETF has an expense ratio of 2.5%.

Is this the first multi-token crypto ETF?

Yes, it is currently the largest multi-token digital asset ETF approved by the SEC and benchmarked to a regulated index.

What other ETFs might be approved next?

Bitwise’s 10 Crypto Index Fund (BITW) is next in line, with a similar diversified crypto portfolio awaiting SEC approval.