Grayscale's Crypto 5 ETF Connects Conventional Finance with the Digital Asset World

The Grayscale CoinDesk Crypto 5 ETF (Ticker: GDLC) has debuted on the NYSE Arca, making it the first multi-asset crypto exchange-traded product (ETP) listed in the United States. This ETF grants investors access to 90% of the overall cryptocurrency market cap by investing in the five most prominent and actively traded digital assets:

, , , , and Cardano Grayscale CoinDesk Crypto 5 ETF Begins Trading on NYSE Arca [ 1 ]. Previously known as the Grayscale Digital Large Cap Fund, this ETF seeks to make crypto market exposure more accessible while helping to mitigate the risks tied to directly holding digital assets Grayscale CoinDesk Crypto 5 ETF Hits NYSE Arca Today [ 3 ].

This ETF tracks the CoinDesk 5 Index, a market cap-weighted benchmark created by CoinDesk Indices. The index undergoes quarterly rebalancing to match the five leading cryptocurrencies by liquidity and market size, deliberately excluding stablecoins, meme tokens, and privacy coins Grayscale CoinDesk Crypto 5 ETF Begins Trading on NYSE Arca [ 1 ]. As of September 2025, the ETF’s holdings consist of roughly 72.09% Bitcoin, 17.08% Ethereum, 5.67% XRP, 4.12% Solana, and 1.04% Cardano Grayscale CoinDesk Crypto 5 ETF [ 2 ]. This portfolio is designed to mirror the performance of the most recognized assets in the digital currency space.

Peter Mintzberg, Grayscale’s CEO, highlighted that this ETF meets a long-standing investor demand for diversified cryptocurrency exposure. By combining the top market-cap tokens into a single investment vehicle,

simplifies the process of gaining broad crypto exposure while offering transparency Grayscale CoinDesk Crypto 5 ETF Hits NYSE Arca Today [ 3 ]. As of September 2025, the fund managed assets totaling about $931.6 million, with an expense ratio of 0.59% Grayscale CoinDesk Crypto 5 ETF [ 2 ]. It’s important for investors to note that GDLC does not operate under the Investment Company Act of 1940, and as such, it is subject to different regulations than conventional ETFs Grayscale CoinDesk Crypto 5 ETF Begins Trading on NYSE Arca [ 1 ].

The rollout of GDLC comes after the U.S. Securities and Exchange Commission (SEC) revised its rules to streamline the approval of commodity-based ETPs Grayscale CoinDesk Crypto 5 ETF Hits NYSE Arca Today [ 3 ]. These regulatory updates have paved the way for more crypto investment options, allowing traditional investors to enter the space with fewer technical hurdles and custody concerns. The ETF’s move from trading on the OTCQX market to NYSE Arca in 2025 marks a pivotal moment for the institutional adoption of cryptocurrencies Grayscale CoinDesk Crypto 5 ETF [ 2 ].

Originally, the fund traded on the over-the-counter market starting in 2019 and became a reporting entity under the Securities Exchange Act of 1934 in 2021 Grayscale CoinDesk Crypto 5 ETF Begins Trading on NYSE Arca [ 1 ]. Its evolution into an ETP allows for ongoing share creation and redemption, which provides better liquidity than its pre-ETP structure. Performance figures indicate a cumulative return of 440.60% since inception, and a 12.41% gain over the previous three months as of September 2025 Grayscale CoinDesk Crypto 5 ETF [ 2 ]. That said, potential investors should be aware of the significant volatility and liquidity risks inherent to cryptocurrencies, as well as the possibility of market manipulation Grayscale CoinDesk Crypto 5 ETF Begins Trading on NYSE Arca [ 1 ].

Grayscale’s introduction of this ETP reflects the increasing institutional appetite for crypto assets. GDLC, by providing consolidated access to leading digital currencies, aims to bridge the gap between conventional finance and the cryptocurrency sector. With its structured approach, regulatory adherence, and methodical rebalancing, the fund is positioned as a strategic option for those seeking diversified crypto investments without the challenges of direct asset custody Grayscale CoinDesk Crypto 5 ETF Hits NYSE Arca Today [ 3 ].