PiCK

Grayscale, multi-crypto ETF launch imminent… GDLC ETF conversion approved

Suehyeon Lee

Summary

Grayscale's Digital Large-Cap Fund 'GDLC' said it received trading approval from the U.S. Securities and Exchange Commission (SEC) for ETF conversion.
Peter Mintzberg, Grayscale's CEO, said the approval is prompting them to hasten the launch of the first multi-virtual asset ETF.
He said the ETF product is expected to include major virtual assets such as Bitcoin, Ethereum, Ripple, Solana, and Cardano.

Grayscale's Digital Large-Cap Fund 'GDLC' has been approved for trading in accordance with the U.S. Securities and Exchange Commission (SEC)'s general listing criteria for exchange-traded funds (ETFs).

On the 18th (local time), Peter Mintzberg, Grayscale's chief executive officer (CEO), said on X, "Grayscale's Digital Large-Cap Fund 'GDLC' application to convert to an ETF has been approved for trading under the general listing standards."

Accordingly, Grayscale is rushing to launch the first multi-virtual asset (cryptocurrency) ETF. The product is expected to include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA), offering the market a new form of multi-asset investment vehicle.