The U.S. Securities and Exchange Commission (SEC) approved Grayscale Investments' proposal to convert its Digital Large Cap Fund (GDLC) into an exchange-traded fund (ETF). This marks the first SEC-approved multi-asset crypto ETF in the United States.
The GDLC ETF, set to begin trading on NYSE Arca under the ticker symbol "GDLC", will hold a basket of five major cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). The fund's portfolio was weighted approximately as follows: Bitcoin: 80.80%, Ethereum: 11.07%, XRP: 4.63%, Solana: 2.75%, and Cardano: 0.75%.
The prices of the underlying cryptocurrencies are: Bitcoin (BTC): $105,818.00, Ethereum (ETH): $2,406.42, Solana (SOL): $146.47, XRP (XRP): $2.17, and Cardano (ADA): $0.54. These market movements may influence the performance of the GDLC ETF upon its launch.