The grayscale multi-token fund GDLC applies for listing as an ETP, potentially becoming the first multi-crypto asset ETP

ChainCatcher news, according to GlobeNewswire, Grayscale has announced that the proposal by NYSE Arca to list the Grayscale Digital Large Cap Fund (GDLC) as an exchange-traded product (ETP) has been published in the Federal Register, officially initiating a review process that could last up to 240 days. If approved, this will become the first rule allowing multiple cryptocurrency ETPs to be listed and traded on a national securities exchange.

As of November 1, 2024, GDLC manages assets exceeding $530 million, with its portfolio including Bitcoin (76.53%), Ethereum (16.92%), Solana (4.36%), XRP (1.63%), and Avalanche (0.56%). The fund is currently traded over-the-counter under the code GDLC.

Grayscale CEO Peter Mintzberg stated, "As investors seek to maximize risk-adjusted returns and build portfolios that can adapt to market changes, they are increasingly allocating to digital assets. Grayscale is committed to meeting client needs and becoming the preferred crypto investment partner for decades to come."