Grayscale’s Digital Large Cap Fund Approved as ETF, Set to Trade Soon
- Grayscale Investments received SEC approval to uplist its Digital Large Cap Fund (GDLC) as an ETF, scheduled to start trading on September 19.
- The GDLC holds a diversified portfolio including Bitcoin, Ethereum, XRP, Cardano, and Solana.
- The fund’s net asset value is $58 per share with over $931 million in assets under management.
- Currently, the fund allocates approximately 72% of its assets to Bitcoin and around 17% to Ethereum.
- This approval follows a previous delay by the SEC in July regarding GDLC’s upgrade from an OTC vehicle.
The SEC’s decision marks a significant shift towards mainstream crypto investment, allowing investors easier access to a diversified portfolio through regulated channels. With strong demand for crypto ETFs evident from recent inflows into Bitcoin-focused funds exceeding $100 billion, GDLC is poised for potential success upon launch.
As Grayscale prepares for trading on September19, its GDLC could attract significant inflows due to its diverse holdings and established market interest in crypto ETFs.(Source)
