SEC Breakthrough Lets Grayscale Launch First Multi-Token ETF

The US Securities and Exchange Commission cleared the way for the first exchange-traded fund bundling a basket of cryptocurrencies, marking a breakthrough for the industry after a swath of approvals largely limited to Bitcoin and Ether.

The decision lets Grayscale Investments convert its Digital Large Cap Fund (ticker GDLC) into an ETF, giving US investors regulated access to multiple digital tokens in one product. The fund allocates more than 70% to Bitcoin and around 17% to Ether, with the balance spread across XRP, Solana and Cardano, according to a fact sheet. Grayscale’s Chief Communications Officer Andrea Williams confirmed the development.