TechFlow news — On November 4, asset management firm Grayscale Investments announced that NYSE Arca, Inc. has filed a Form 19b-4 with the U.S. Securities and Exchange Commission (SEC) to list the Grayscale Digital Large Cap Fund (GDLC) as an exchange-traded product (ETP). The filing has been published in the Federal Register, officially initiating a regulatory review process that could last up to 240 days.
The proposal aims to revise the exchange's definition of ETPs holding commodities and digital assets, extending beyond just Bitcoin and Ethereum. If approved, this would establish the first rule set allowing multi-crypto ETPs to be listed and traded on a national securities exchange in the United States.
As of November 1, 2024, GDLC manages over $530 million in assets under management, with a portfolio consisting of Bitcoin (76.53%), Ethereum (16.92%), Solana (4.36%), XRP (1.63%), and Avalanche (0.56%). The fund currently trades over-the-counter under the ticker symbol GDLC.
"As investors seek to maximize risk-adjusted returns and build portfolios resilient to changing market conditions, they are increasingly allocating to digital assets," said Grayscale CEO Peter Mintzberg. "Grayscale is committed to meeting client demand and becoming the trusted crypto investment partner for decades to come."
