Grayscale has listed the CoinDesk Crypto 5 ETF (GDLC) on NYSE Arca, making it the first U.S.-listed exchange-traded product to hold more than two digital assets. The fund tracks an index from CoinDesk Indices and includes Bitcoin, Ethereum, XRP, Solana, and Cardano—a basket representing over 90% of the crypto market cap when excluding stablecoins and memecoins.
Previously traded over-the-counter, GDLC’s exchange debut increases liquidity and accessibility for investors seeking diversified crypto exposure. Grayscale CEO Peter Mintzberg said the product addresses growing demand for simple and transparent access to leading digital assets.
The ETP is not registered under the Investment Company Act of 1940, meaning it lacks the regulatory protections of traditional ETFs or mutual funds.
The fund, which has traded in various forms since 2018, is up more than 40% in 2025 and has outperformed Bitcoin by nearly 11% since June, thanks to strong gains from its non-BTC holdings.
Meanwhile, Bloomberg analyst Eric Balchunas noted the SEC has approved generic listing standards that may pave the way for spot crypto ETFs under the ’33 Act, covering 12–15 coins with Coinbase futures.
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