Side benefit for SEC in approving GDLC is that it would provide nice “test run” for addn’l crypto assets in ETF wrapper…
— Nate Geraci (@NateGeraci) June 29, 2025
xrp, sol, & ada represent < 10% combined of GDLC’s holdings.
Easy way to slowly step into other assets.
Altcoin Exposure Expands As SEC Approves GDLC
By:Cointribune
The crypto ecosystem crosses a symbolic milestone with the expedited approval by the SEC of the conversion of the Grayscale Digital Large Cap Fund (GDLC) into an ETF. This green light is not limited to Grayscale alone. It marks the entry of altcoins into the regulatory scope. In a context where the political climate is softening towards cryptos, this decision could pave the way for a new generation of ETFs focused on assets like XRP, Solana, or Cardano.

In Brief
- The U.S. SEC has approved, via an expedited procedure, the conversion of the Grayscale Digital Large Cap Fund into a publicly traded ETF.
- This fund was previously reserved for accredited investors but will now be accessible to the general public through NYSE Arca.
- The ETF’s portfolio is mostly composed of Bitcoin (≈80 %) and Ethereum (≈11 %), with a minor share of XRP, Solana, and Cardano.
- This approval could open the way to a diversification of crypto ETFs in the United States beyond just BTC and ETH.
Grayscale Obtains SEC Approval for a Multi-Asset Crypto ETF
While the approval of many major crypto ETFs was postponed until this summer , on July 1st, the United States Securities and Exchange Commission (SEC) validated, through an accelerated process, the conversion of the Grayscale Digital Large Cap Fund LLC into an exchange-traded fund (ETF).
This change was formalized in a regulatory document, amendment SR-NYSEARCA-2024-87, where one can read : “It is therefore ordered, pursuant to Section 19(b)(2) of the Exchange Act, that the proposed rule change […] be approved on an accelerated basis.”
The fund was previously accessible only via direct transaction for accredited investors. The SEC’s approval will now allow its public listing on NYSE Arca, making this product available to individual investors through traditional markets.
The Grayscale Digital Large Cap Fund features a notable composition, marking a turning point in crypto ETF structuring. It is distinguished by its multi-asset nature :
- Bitcoin: nearly 80 % of the portfolio, confirming its dominant position ;
- Ethereum: approximately 11 %, the fund’s second major component ;
- Solana (SOL), Cardano (ADA), and XRP: each represents individual weightings of less than 10 %, according to information published by Grayscale .
This diversity of assets makes the GDLC a vehicle for moderate exposure to altcoins while maintaining a secure base on the two main cryptos.
This hybrid positioning allows the fund to act as a test for regulators, who can observe the gradual integration of other cryptos into listed financial instruments without sliding into overly risky exposure. This configuration, unprecedented in the US market, constitutes a strategic regulatory precedent.
Towards Regulatory Openness to Altcoin-Related ETFs ?
Beyond the approval itself, analyzing sector reactions indicates a possible broadening of the range of spot ETFs to other cryptos.
Nate Geraci, president of The ETF Store, reacted on social network X on June 30, 2025. He stated that this GDLC approval “could then be followed by approval of individual ETFs for XRP, SOL, ADA, etc.”.
He added that this decision represents an opportunity for the SEC to have a “real-world test for other crypto assets encapsulated within an ETF format.” Furthermore, he highlights that “XRP, SOL, and ADA together represent less than 10 % of GDLC’s assets,” a ratio he views as ideal for a gradual increase in exposure.
Such a shift in political atmosphere plays a non-negligible role. Since President Donald Trump’s inauguration in January, observers have noted a more favorable climate for the crypto industry within federal bodies.
The SEC is currently examining a series of crypto ETF proposals specifically focusing on altcoins, notably for Solana (SOL) and Dogecoin (DOGE). The approval of the GDLC could therefore serve as a regulatory precedent, easing the transition to financial products focusing exclusively on these assets.
This momentum could mark a turning point for cryptos beyond the BTC-ETH duo. If the SEC is satisfied with the performance of this mixed fund in public markets, it would then have a concrete argument to justify future approvals centered exclusively on altcoins, as evidenced by the 70 crypto ETFs awaiting its approval this year . However, no decision is guaranteed in the short term, as SEC arbitrations are influenced by political, legal, and systemic considerations.
0
1
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!
You may also like
Russia-Ukraine Talks: A Crucial Step Towards Hopeful Resolution?
BitcoinWorld•2025/07/23 21:05

Cardano Whale Revolt: Rejects IOG, Hoskinson Threatens Legal Action
Cointribune•2025/07/23 21:05

AIOZ Network (AIOZ) To Rise Higher? Key Harmonic Pattern Signals Potential Upside Move
CoinsProbe•2025/07/23 20:05

PEPE To Soar Further? This Emerging Fractal Pattern Saying Yes!
CoinsProbe•2025/07/23 20:05

Trending news
MoreCrypto prices
More
Bitcoin
BTC
$118,340.93
-1.12%

Ethereum
ETH
$3,602.61
-2.96%

XRP
XRP
$3.15
-10.91%

Tether USDt
USDT
$1
+0.00%

BNB
BNB
$769.99
-0.78%

Solana
SOL
$188.36
-6.79%

USDC
USDC
$1.0000
+0.01%

Dogecoin
DOGE
$0.2391
-10.45%

TRON
TRX
$0.3083
-1.60%

Cardano
ADA
$0.8087
-9.35%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now