Grayscale Investments has filed to convert its Grayscale Digital Large Cap Fund (GDLC) into an exchange-traded fund (ETF).
This move will expand the company’s current selection of crypto ETFs. The GDLC fund currently trades over-the-counter and is tied to the performance of the CoinDesk Large Cap Select Index.
It offers investors exposure to five major cryptocurrencies, including Bitcoin, Ether, Solana, XRP, and Avalanche, which are weighted based on their market capitalization.
Once approved by the U.S. Securities and Exchange Commission (SEC), the fund will be listed on the New York Stock Exchange (NYSE) after the exchange’s 19b-4 filing is approved.
This type of filing is a formal request for a rule change, such as the listing of a new security like an ETF. The SEC must respond to this request within a specific timeframe.
