Grayscale Investments has secured approval to begin trading on NYSE Arca tomorrow. Also, the fund will be traded under a new name called Grayscale CoinDesk Crypto 5 ETF.
Grayscale Converts $GDLC Trust Into CoinDesk Crypto 5 ETF on NYSE
The ETF, formerly known as the Grayscale Digital Large Cap Fund ($GDLC), will hold a basket of five leading digital assets. These are Bitcoin, Ethereum, XRP, Solana, and Cardano. The move marks one of the most significant transitions for a crypto investment vehicle in the United States to date.
According to the Form 8-A filing with the SEC, the fund has officially changed its name. The document confirms that shares of the ETF will be listed on NYSE Arca, opening direct access for investors.
The registration statement outlines that investors will own equal, fractional interests in the fund’s capital, assets, and distributions. Making it a fully regulated ETF allows more people to trade it. This shift also eliminates redemption restrictions and other similar limitations. These limitations have prevented adoption from big players.
Grayscale received the SEC’s approval for this fund to be listed on the NYSE months ago. By tying the fund’s brand to CoinDesk’s index methodology, Grayscale signals a push toward recognized benchmarks in crypto markets.
The ETF now positions itself against spot Bitcoin ETFs while expanding investor exposure beyond the two leading digital assets.
Back-to-Back ETF Launches Boost Market Momentum as Prices Surge
Momentum in the market is accelerating. Just today, the first spot XRP ETF launched, making history as the first regulated product offering direct exposure to XRP. Tomorrow, Grayscale’s fund will follow. Analysts suggest this one-two development represents a turning point in crypto’s institutional adoption.
Market commentator Gabriel Garcia stated that the developments are a sign that the crypto market is changing rapidly. The ETF could enjoy massive interest due to the large number of assets covered.
1st Spot XRP ETF Launched Today.
This one is launching tomorrow.
It includes BTC, ETH, XTP, SOL, & ADA
This space moves fast, ladies and gents.
We haven’t seen anything yet.#Bitcoin, #Cardano, #XRP, #CryptoNews #CryptoMarket
— Gabriel Garcia (@gabegarciazen) September 18, 2025
The launch occurs when performances of the assets in the ETF are performing well. Bitcoin is up nearly 2% to trade at $117,828. Ethereum increased by more than 3% to $4,609, and XRP rose nearly 3% at $3.11. The biggest gains among these assets were from Solana and Cardano, with each rising over 6%.
Some top industry leaders have shared their insights regarding the development. Bitwise CEO Hunter Horsley said “the crypto index moment is coming.” His statement suggests that crypto index funds may eventually become the new equity index ETFs.
Legal expert Scott Johnsson said such investment vehicles can contain as much as 15% in unapproved assets. So, crypto assets outside of current listing standards may still be included but under specific rules.
Underappreciated aspect of this is that you can have up to a 15% allocation of Non-Approved Assets in these vehicles. That should include ANY crypto commodity asset even if it doesn’t qualify under the new generic listing standard or otherwise have a separate individualized 19b-4…
— Scott Johnsson (@SGJohnsson) September 18, 2025
