Wall Street just got a powerful new on-ramp to crypto as the SEC greenlit a multi-asset fund holding bitcoin, ethereum, XRP, solana and cardano for trading.
SEC Approves Grayscale Multi-Crypto Fund, Paving Way for Broader Digital Asset Access
The U.S. Securities and Exchange Commission (SEC) announced on Sept. 17 a package of approvals expanding access to digital asset investment vehicles. The decisions included authorization of generic listing standards for commodity-based trust shares and new options tied to bitcoin ETF indexes. Alongside these moves, the SEC cleared the listing and trading of the Grayscale Digital Large Cap Fund, which tracks the Coindesk 5 Index and holds bitcoin, ethereum, XRP, solana, and cardano.
As the Commission stated:
The Commission approved the listing and trading of the Grayscale Digital Large Cap Fund, which holds spot digital assets based on the Coindesk 5 Index.
Grayscale Investments CEO Peter Mintzberg described the development as a milestone for the firm and the broader crypto sector. On social media platform X, he wrote: “Grayscale Digital Large Cap Fund $GDLC was just approved for trading along with the Generic Listing Standards. The Grayscale team is working expeditiously to bring the first multi crypto asset ETP to market with bitcoin, ethereum, XRP, Solana, and Cardano.”
In a separate post, the executive added:
Thank you to the SEC Crypto Task Force for their continued, unmatched efforts in bringing the regulatory clarity our industry deserves.
Market analysts viewed the SEC’s decision as a significant step in expanding regulated digital asset exposure and a signal of its readiness to approve more diversified crypto products.
Grayscale confirmed that the Digital Large Cap Fund has filed a registration statement and prospectus with the SEC. These documents are available through the SEC’s EDGAR system or directly from the company. While skeptics warned that multi-asset funds may compound volatility risks, supporters argued that diversification helps reduce concentration in any one digital currency and provides a structured entry point for investors. With this approval, Grayscale has secured a leading position in developing regulated, diversified crypto products for the U.S. market.
