Institutional momentum around digital assets strengthened as one of the world’s largest crypto investment managers marked a symbolic milestone for the sector. Grayscale Investments announced on Oct. 24 that its leadership team rang the opening bell at the New York Stock Exchange (NYSE) to celebrate the Grayscale Coindesk Crypto 5 ETF (NYSE: GDLC), the first multi-asset cryptocurrency exchange-traded product (ETP) in the United States. The event highlighted the product’s earlier debut on NYSE Arca and reinforced Grayscale’s ongoing role in advancing mainstream access to digital assets.
Grayscale emphasized the symbolic nature of the ceremony on social media platform X, stating: “It’s a big day for crypto at NYSE. We’re honored to celebrate the launch of the Grayscale Coindesk Crypto 5 ETF (Ticker: GDLC) – the first multi-asset crypto fund in the U.S. – by ringing the Opening Bell at NYSE.” Chief Executive Officer Peter Mintzberg stated:
With GDLC, the first U.S. diversified crypto index ETP, investors can now gain exposure to 90% of the crypto market in one ticker. This launch is one more in our history of firsts to market in every year of the last 12+ years, continuing our track record of innovation in digital assets.
Launched in September 2025, the Grayscale Coindesk Crypto 5 ETF began trading on NYSE Arca as a diversified, multi-asset exchange-traded product designed to provide exposure to roughly 90% of the digital asset market. As of Oct. 24, 2025, the ETF’s holdings consist of five cryptocurrencies, with bitcoin representing 74.6% of the total portfolio. Ethereum maintains a 16.07% allocation, XRP comprises 5.01%, solana accounts for 3.52%, and cardano completes the structure with 0.8%.
Converted from the Grayscale Digital Large Cap Fund, the ETF tracks the Coindesk 5 Index, which measures the performance of the largest and most liquid crypto assets by market capitalization. The fund undergoes quarterly rebalancing to reflect changes among leading digital assets. It is not registered under the Investment Company Act of 1940, meaning it operates outside the standard regulatory framework governing traditional ETFs. Mintzberg referred to the structure as a “purpose-built innovation” that broadens diversified access to digital assets, describing GDLC as a connection point between conventional investors and the expanding crypto market.
- What is the Grayscale Coindesk Crypto 5 ETF (GDLC)?
GDLC is the first U.S. multi-asset crypto ETF, giving investors diversified exposure to 90% of the digital asset market through one ticker. - Which cryptocurrencies are included in Grayscale’s GDLC ETF?
The fund holds bitcoin, ether, XRP, solana, and cardano, reflecting the largest and most liquid assets in the crypto market. - When did GDLC start trading?
The ETF began trading on NYSE Arca in September 2025, expanding investor access to regulated crypto exposure. - Why is GDLC significant for investors?
It marks a milestone in institutional crypto adoption by simplifying diversified digital asset exposure through a single, exchange-traded product.
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