Grayscale, a major crypto asset manager, is in the process of converting its Grayscale Digital Large Cap Fund (GDLC) into an exchange-traded fund (ETF), according to Bloomberg ETF expert Eric Balchunas. The proposed ETF is designed to provide investors with a diversified portfolio including major digital assets such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), XRP, and Avalanche (AVAX).
Grayscale’s Digital Large Cap Fund currently holds approximately $524 million in assets, with 75% allocated to Bitcoin and 19% to Ethereum, while the remaining investments are distributed among Solana, XRP, and Avalanche. The move comes at a time when investor interest in regulated cryptocurrency products is increasing, and follows the approval of spot ETFs for Bitcoin and Ethereum earlier this year.
The successful conversion would mark the fifth launch by Grayscale this year, highlighting the firm’s strategy to expand its product offerings in response to increasing demand for diverse digital asset exposure. Other asset managers are also positioning themselves to launch ETFs that include smaller tokens such as Solana, XRP, and Litecoin, indicating a broader trend to integrate a wider range of cryptocurrencies into regulated investment vehicles.
