NYSE Arca Files for SEC Approval of Grayscale’s First Multi-Crypto ETF
On October 29, NYSE Arca officially filed with the SEC to list a new, diversified Grayscale ETF that will provide exposure to a range of leading cryptocurrencies. This groundbreaking proposal aims to convert Grayscale’s Digital Large Cap Fund into a fully regulated exchange-traded fund (ETF), making it easier for investors to access a carefully curated portfolio of major digital assets.
Launched in 2018, the Grayscale Digital Large Cap Fund currently manages approximately $565 million across assets including Bitcoin, Ethereum, Solana, Avalanche, and XRP. The ETF conversion request, first submitted by Grayscale on October 16, was closely followed by NYSE Arca’s listing application, highlighting a strategic effort to bring diversified crypto investments to traditional markets.
ETF analyst Nate Geraci provided further insight into the fund’s asset breakdown: “The SEC has formally acknowledged the filing to convert Grayscale Digital Large Cap Fund (GDLC) into an ETF… GDLC holds about 77% BTC, 17% ETH, with the rest in SOL, XRP, and AVAX,” he shared on social media, emphasizing the fund’s composition and the initial steps of SEC review.
Grayscale has expanded its investment offerings by adding Jupiter (JUP) to its evaluation list, which sparked a 17% rise in JUP’s value over the past two weeks. Additionally, Grayscale launched a Decentralized AI Fund, giving select investors exposure to AI-focused blockchain projects such as Near Protocol, Bittensor, Render, and Filecoin.
Crypto ETFs, especially Bitcoin-focused funds, have surged in popularity, drawing over $4 billion in net inflows in October alone. This surge pushed Bitcoin’s price to over $73,000, its highest since March, and boosted the net assets of spot Bitcoin ETFs to a record $72.55 billion—surpassing 5% of Bitcoin’s total market cap for the first time.
Grayscale’s ETF proposal aims to meet growing demand for diversified crypto investments, bridging the gap between blockchain, AI, and traditional finance. If approved, the Grayscale ETF could become a pivotal addition to the crypto ETF landscape, enabling investors to tap into both established and emerging digital assets.
