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) 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 on 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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