TechFlow news, October 16 — According to CoinDesk, Grayscale has filed an application to convert its multi-asset fund, the Grayscale Digital Large Cap Fund (GDLC), into an exchange-traded fund (ETF). The fund tracks the CoinDesk Large Cap Select Index, providing market-cap-weighted exposure to five major cryptocurrencies: Bitcoin, Ethereum, Solana, XRP, and AVAX.
A Grayscale spokesperson said the move aims to meet investor demand for diversified crypto asset portfolios. If approved, the fund will transition from over-the-counter trading to listing on the New York Stock Exchange. This would be Grayscale’s fifth ETF launch this year, following the successful conversions of its Bitcoin Trust (GBTC) and Ethereum Trust (ETHE) into ETFs.
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