Well, it finally happened. The SEC, after years of acting like your overly cautious friend who triple-checks locks and still loses sleep, has greenlit Grayscale’s Digital Large Cap Fund (GDLC) to graduate into a spot ETF. Yes, that means investors can now get exposure to Bitcoin, Ethereum, XRP, Solana, and Cardano — all in one tidy, publicly traded wrapper — without spelunking into the depths of crypto wallets and gas fees.

Originally launched in 2018 when crypto was still more punchline than portfolio staple, GDLC has quietly amassed nearly $755 million in assets. About 80% of those assets are Bitcoin, because when in doubt, bet on the digital gold; with Ethereum, XRP, Solana, and Cardano rounding out the ensemble. Think of it as a greatest hits album of volatile tech dreams and regulatory migraines.

The fund will now track the CoinDesk 5 Index (CD5), which is just a fancy way of saying, “Here’s the top shelf of crypto assets that aren’t memecoins or lawsuits in waiting.” It’s also worth noting that GDLC has a 2.5% expense ratio; steep by ETF standards, but perhaps reasonable given the complexity of herding five blockchains into one ticker symbol.

Andy Baehr of CoinDesk Indices called the approval “thrilling,” and claimed this will be the largest multi-token digital asset ETF in the world. Humble, no. But probably correct.

Not to be outdone, Bitwise is loitering just behind the curtain, awaiting SEC judgment on its own ETF bid — the Bitwise 10 Crypto Index Fund (BITW). BITW follows a similar structure, though it adds in other fan favorites like Chainlink, Polkadot, and Litecoin; for those who prefer their portfolios with a hint of nostalgia.

In short: crypto is putting on its grown-up clothes, and the SEC just handed Grayscale the keys to the front door. Whether this turns out to be a cocktail party or a fire drill remains, as always, an open bet.

👉Join our Trading Community’s newsletter!👈

Finally, if you learned something, give us some love 💗 and SHARE. 🔁