SEC approves first US multi-asset crypto ETP from Grayscale

The SEC approved Grayscale’s Digital Large Cap Fund, the first US multi-asset crypto ETP offering exposure to Bitcoin, Ether, XRP, Solana and Cardano.

The US Securities and Exchange Commission (SEC) has approved the first multi-asset cryptocurrency exchange-traded product (ETP) in the United States, clearing Grayscale’s Digital Large Cap Fund (GLDC) for listing.

The fund will offer exposure to five of the world’s largest cryptocurrencies: Bitcoin (BTC), Ether (ETH), XRP (XRP), Solana (SOL) and Cardano (ADA). The approval, disclosed in a filing Wednesday, marks a milestone for the digital asset industry and follows the success of US spot Bitcoin exchange-traded funds (ETFs).

A multi-asset crypto ETP gives traditional investors an easier way to gain exposure to several cryptocurrencies without opening accounts on exchanges or purchasing the tokens directly.

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