Grayscale recently launched a cryptocurrency ETP that tracks 5 major cryptocurrencies. The fund offers an innovative way to gain exposure to a wide range of digital assets.
The following is a summary of the information that you will find on this website:
- Grayscale listed the first U.S. crypto ETF with a multi-asset portfolio on NYSE Arca.
- This ETF covers over 90% of the crypto market capitalization.
- This product is now exchange traded, which improves liquidity and accessibility.
The September 19 press releaseThis Friday, Grayscale CoinDesk’s Crypto 5 ETF ticker started trading on NYSE Arca. The exchange traded product is now the only one in the U.S. that has more than 2 digital assets.
The index is maintained by CoinDesk Indices. It includes Bitcoin.BTCEtherETH), XRP, Solana (SOLCardanoADA). The product is now more accessible and liquid than it was before.
The first of its kind product has a wide market reach
GDLC is a digital asset management system developed by Grayscale Investments. It tracks the top five liquid assets, and the ones that are traded the most. The system was designed to give investors a concentrated view of market leaders.
This basket, according to CoinDesk Indices data as at late August, captures over 90% of all cryptocurrency market capitalization. The figure was calculated after excluding memecoins and stablecoins. It is a way to focus on the value drivers that drive the digital-assets ecosystem by focusing only on a single security.
Launching the launch marks a new era in institutional and mainstream investor access to crypto. Investors can diversify their strategy without having to deal with the intricacies of using multiple exchanges and wallets.
“Grayscale CoinDesk Crypto 5 ETF has met the growing investor demand for diverse exposure to crypto for nearly a decade and investors are increasingly turning to the ETP wrapper for their crypto exposure. GDLC is a purpose-built innovation designed to meet that demand, bringing simplicity and transparent access to the most liquid and largest crypto assets,” Grayscale CEO Peter Mintzberg said.
GDLC does not fall under Investment Company Act of 40, despite the fact that it is a large-scale product. This means the product does not offer the same regulatory protections or operate under the same strict guidelines as traditional ’40 Act–registered ETFs or mutual funds.
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Source: crypto.news
