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SEC Approves Grayscale’s Multi-Crypto Fund Including XRP, Solana and Cardano

SEC Approves Grayscale’s Multi-Crypto Fund Including XRP, Solana and Cardano

According to the SEC, this approval introduces the first U.S. multi-crypto ETP, signaling accelerated regulatory momentum and potentially paving the way for over 100 new crypto ETF launches.

BTC
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Fact Check
The statement is strongly corroborated by the overwhelming majority of the provided evidence. Multiple sources, including Cointelegraph, The Block, Yahoo Finance, and Coindesk, explicitly state that the SEC approved Grayscale's multi-crypto fund and that its holdings include XRP, Solana, and Cardano. While some sources mention a subsequent pause or delay in the launch, this does not contradict the fact that an initial approval was granted.
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Summary

The U.S. SEC approved Grayscale’s Digital Large Cap Fund (GDLC), marking the first multi-cryptocurrency exchange-traded product listed in the U.S. The fund provides regulated exposure to Bitcoin, Ether, XRP, Solana, and Cardano, with $915 million in assets under management and a net asset value of $57.70 per share. SEC Chair Paul Atkins highlighted that the new generic listing standards are designed to maximize investor choice and foster innovation. Bloomberg’s Eric Balchunas noted the approval could lead to over 100 new crypto ETFs within a year. Concurrently, issuers filed a wave of ETF applications tied to Avalanche, Bonk, Orbs, Litecoin, and Sui, reflecting heightened market interest. Bitcoin ETFs saw $292 million in net inflows, while Ethereum products experienced $61.7 million in outflows on the same day.

Terms & Concepts
  • Digital Large Cap Fund (GDLC): A Grayscale investment fund offering diversified exposure to Bitcoin, Ether, XRP, Solana, and Cardano, now approved as a U.S.-listed ETP.
  • Generic Listing Standards: SEC rules designed to streamline and accelerate the approval process for crypto ETFs, enabling quicker market entry for issuers.
  • Crypto ETF: An exchange-traded fund providing regulated exposure to one or multiple cryptocurrencies without requiring direct asset custody.