The SEC is back on the move when it comes to crypto ETFs. After approving the first Solana ETF that even allowed investors to receive staking benefits, the U.S. Securities and Exchange Commission has now greenlit what will likely become the largest multi-crypto ETF.
As reported by CoinDesk, the SEC just approved a request to convert Grayscale’s Digital Large Cap Fund (GLDC) into an ETF product. This fund consists of a bundle of digital assets and collectively tracks the value of Bitcoin, Ethereum, XRP, Solana, and Cardano.
The Grayscale Digital Large Cap Fund was introduced in 2018 and was one of the first financial products providing regular investors with cryptocurrency exposure.
The newly approved ETF will trade under the same GLDC ticker and offer investors exposure to a diversified basket of crypto assets, all under a single product. As of June 30, the fund’s composition was heavily weighted toward Bitcoin and Ethereum, which together made up over 91% of the portfolio. The full breakdown includes:
- Bitcoin (BTC) – 79.4%
- Ethereum (ETH) – 11.6%
- XRP – 4.8%
- Solana (SOL) – 2.9%
- Cardano (ADA) – 0.8%
With $774.8 million in assets under management, GLDC becomes the first SEC-approved multi-asset crypto ETF in the U.S. to include altcoins like XRP, SOL, and ADA. On top of that, the new ETF will become the largest “crypto bundle” ETF in the U.S.
The fund will adjust its crypto holdings every three months to reflect market size and liquidity. Now that it’s an ETF, investors can buy or sell shares daily, which helps keep its price closely aligned with the value of its underlying assets.
Since its launch in 2025, the Grayscale Digital Large Cap Fund (GLDC) has delivered a performance that has a close relation to crypto movements. The fund saw its first major rally during the 2020-2021 bull run, reaching a market price ATH of $64.24 per share.
Much like digital assets, GLDC eventually recovered from its 2022 correction, gaining momentum through 2024 and into 2025. As of June 30, 2025, the fund’s market price per share sits just under $48, with a cumulative return of over 699% since inception and a 1-year gain of 113%
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