The Grayscale CoinDesk Crypto 5 ETF officially began trading on September 19, 2025, after receiving approval from the U.S. Securities and Exchange Commission (SEC). The rebranded fund, formerly known as the Grayscale Digital Large Cap Fund, is expected to play a pivotal role in expanding institutional access to digital assets and improving overall market liquidity.
SEC Approval Opens the Door for Institutional Interest
On September 18, 2025, Grayscale announced that its Digital Large Cap Fund LLC had been renamed and restructured as the Grayscale CoinDesk Crypto 5 ETF, under a revised LLC agreement. The SEC’s approval includes options tied to the ETF as well as the Cboe Bitcoin US ETF Index, a move that could significantly enhance institutional adoption.
The ETF allocates assets to the top five cryptocurrencies — Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA) — providing diversified exposure with reduced compliance hurdles for traditional investors.
Market Reactions and Industry Response
Market optimism has grown following the ETF’s launch, with analysts pointing to parallels with the ProShares Bitcoin Strategy ETF (BITO) debut in 2021, which drove significant investor inflows. While industry leaders have yet to issue formal statements, ETF analyst Eric Balchunas noted growing anticipation across the investment community.
According to CoinMarketCap, Bitcoin is currently trading at $117,320.61, with a market cap of $2.34 trillion, representing 56.87% market dominance. Despite a 22.65% drop in 24-hour trading volume, BTC remains up 0.62% daily, highlighting steady investor sentiment.
Broader Impact on Crypto Regulation
Research by CryptosNews indicates that such ETF approvals tend to deepen engagement between traditional finance and digital assets, fostering mainstream adoption. The SEC’s decision reflects a willingness to accommodate crypto innovation, potentially setting the stage for future regulatory advancements.
This launch not only strengthens Grayscale’s position in the market but also highlights the growing convergence of Wall Street and digital assets, signaling a new era for crypto investment products.
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