The SEC approves Grayscale’s first multi-asset crypto ETF in the USA

Bitcoin becomes a protagonist alongside Ethereum, Solana, XRP, and Cardano in the multi-asset ETF revolution thanks to the SEC’s approval of the conversion of the Grayscale Digital Large Cap Fund (GDLC) into a spot ETF

The landscape of asset digitali in the United States is changing with a historic decision that opens new horizons for both traditional investors and the crypto sector.

SEC gives the green light to Grayscale: a turning point for Bitcoin and multi-asset ETFs

The Securities and Exchange Commission (SEC) has officially approved Grayscale’s request to convert its Digital Large Cap Fund (GDLC) into a spot cryptocurrency ETF. This step marks a crucial turning point: until now, most approved spot ETF products focused on a single asset, especially Bitcoin. The introduction to the market of a product that replicates the performance of a regulated basket of digital assets addresses the growing need for diversification and easy access to crypto instruments.

NUOVO: C’è l’ordine di approvazione per la conversione del @Grayscale $GDLC in un ETF. Questo è il loro fondo Digital Large cap che detiene Bitcoin, Ethereum, Solana, XRP e Cardano. La scadenza finale era domani pic.twitter.com/9kALeDD2Uh

— James Seyffart (@JSeyff) 1 luglio 2025

The green light arrived one day before the final deadline for the review by the regulatory body. It is an anticipated decision, which places Grayscale once again at the center of innovation in digital investments. With this approval, Grayscale strengthens its ability to offer sophisticated and regulated products to the bull and bear markets of the United States.

Composition of the new Grayscale ETF

GDLC builds its strength on a dynamic composition, based on the market capitalization of the included assets. In particular, the allocation sees Bitcoin at 79.9%, followed by Ethereum at 11.3%, while the rest is made up of XRP, Solana, and Cardano. This structure allows for targeted exposure to the main trends in the sector, while maintaining the possibility of benefiting from the performance of other emerging assets.

One of the key elements of this ETF lies in the active management: Grayscale provides a quarterly rebalancing of the fund, with the goal of reflecting the changes in size and liquidity of the various underlying assets. Consequently, investors benefit from a constantly updated basket that complies with market dynamics.

From closed-end fund to spot ETF: the stages of Grayscale towards public trading

The Digital Large Cap Fund was established in 2018 as a closed-end fund, reserved for investitori accreditati. That choice was based on the need to ensure protected and compliant access to the early forms of investment in criptovalute. However, with the conversion into a spot ETF, GDLC is preparing to reach a much wider audience.

The new ETF will be publicly traded and will offer direct exposure to a diversified set of digital assets. This follows the path set by the approval, in January 2025, of the Grayscale Bitcoin Trust (GBTC) as an ETF. However, the novelty of GDLC is in offering, for the first time in the US market, a product that goes beyond a single asset and embraces a regulated and transparent plural basket.

The impact of SEC approval: new rules and risk management

The arrival of a spot multi-asset ETF highlights new challenges for index management and for the selection of eligible cryptocurrencies. In particular, the compliance of the assets with current regulations and the possible presence of enforcement actions by regulators are central variables in the construction and monitoring of the fund.

Furthermore, the periodic rebalancing represents a key element of transparency and accountability towards investors, who will be able to rely on an updated structure that is less exposed to the volatility of individual cryptocurrencies. These criteria could become reference models for potential future launches of multi-asset ETFs on an international scale.

New horizons for investors and market: Bitcoin and diversification

The entry of the GDLC ETF into the Grayscale lineup marks a turning point not only for the company but for the entire crypto ETF market in the United States. While in recent years Bitcoin ETF spot have already recorded significant institutional capital flows, the diversification offered by these instruments is now even more accessible. Investors will thus be able to mitigate the typical risk of a volatile market, seizing the opportunities offered by a wide range of regulated digital assets.

It must be emphasized that the possibility of easily accessing a basket of cryptocurrencies in a single product represents an unprecedented simplification. Both the interest and participation of institutional entities and families are destined to increase, facilitating the growth of the entire US crypto ecosystem.

“html Preparations for the debut: what to expect from the GDLC listing “

The trading of the new multi-asset ETF, according to the announcement, should commence shortly. The final coordination and preparation activities with the regulatory exchanges remain to be completed. Once operational, the Grayscale Digital Large Cap ETF will offer, for the first time, regulated and transparent access to some of the most relevant cryptocurrencies in the global landscape.

The spotlight is also on the methods of divulgazione of information to investors, on risk management strategies, and on the best compliance practices that Grayscale intends to adopt to ensure maximum security and transparency.

Towards an evolved digital finance: concrete perspectives and opportunities

The approval of the conversion of GDLC into a multi-asset spot ETF brings forth a new standard for digital investments. Consequently, a scenario emerges where regulation, diversification, and innovation proceed hand in hand. For investors, the ability to safely access the world of cryptocurrencies through regulated channels like ETFs represents a turning point for financial inclusion.

As the market awaits the start of trading, this milestone by Grayscale signals a clear direction: a future where Bitcoin and other digital assets can be integrated simply and transparently into traditional portfolios. An opportunity for investors and institutional operators to explore new opportunities and contribute to the evolution of U.S. digital finance. Those who wish to delve deeper into investment opportunities or stay updated on developments can consult the official pages of Grayscale Digital Large Cap Fund.