Grayscale Seeks SEC Approval to Convert $520 Million Crypto Fund ($GDLC) into NYSE-Listed ETF

Oct 15, 2024, 09:57 PM

Grayscale Investments has filed with the U.S. Securities and Exchange Commission (SEC) to convert its $520 million Digital Large Cap Fund (ticker: $GDLC) into an exchange-traded fund (ETF) to be listed on the New York Stock Exchange (NYSE). The fund holds a diversified portfolio of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Avalanche (AVAX), with Bitcoin accounting for approximately 75% of the holdings and Ethereum about 19%. This move represents Grayscale's continued efforts to expand access to cryptocurrency investments through traditional financial instruments and may lead to increased institutional investment in the sector.