'The Age Of Crypto Index Investing': Grayscale ETF Holding Bitcoin, Ethereum, Solana And More Goes Live

Group 1 - The first U.S. cryptocurrency index exchange-traded fund (ETF), the Grayscale Digital Large Cap Fund (NYSE: GDLC), has launched for trading, marking a significant milestone in crypto index investing [1][2] - The fund provides exposure to the top five largest and most liquid cryptocurrencies, with Bitcoin making up 72.43% and Ethereum 16.95% of the fund's allocation, while XRP, Solana, and Cardano account for 5.6%, 4.01%, and 1.02% respectively [3] - Grayscale plans to rebalance the fund quarterly to maintain alignment with the CoinDesk 5 Index, and the fund achieved a trading volume of $22 million on its first day [5] Group 2 - The approval of GDLC to convert from a private over-the-counter fund to an ETF was granted by the SEC, which had initially approved the conversion in July but delayed the decision [6] - The SEC's introduction of generic listing standards for cryptocurrency-based ETFs is expected to simplify the filing process and accelerate approvals, potentially leading to over 100 new cryptocurrency ETFs in the next 12 months [7] - Analysts predict that basket/index crypto ETPs could become the second or third largest category of crypto ETPs, following Bitcoin ETPs, indicating a growing interest in cryptocurrency index funds [6]