Grayscale Investments has introduced a new way to invest in cryptocurrencies with the launch of a multi-token exchange-traded product in the U.S.

the Grayscale CoinDesk Crypto 5 ETF, trading on NYSE under the ticker GDLC, includes bitcoin, ether, XRP, Solana, and Cardano. According to Grayscale, these five digital assets represent over 90% of the digital-asset market capitalization.

“We are ushering in the age of crypto index investing,” said Peter Mintzberg, CEO of Grayscale, to CNBC. “We are typically in the first mover position. Grayscale will continue innovating at scale for investors to access the fastest growing asset class of the last 10 years.”

The launch follows approval from the Securities and Exchange Commission, allowing Grayscale to convert its Digital Large Cap fund into an ETF with allocations to multiple digital coins.

This move highlights the increasing interest in diversified crypto exposure from both institutional and retail investors. The asset class is gaining mainstream acceptance, notably after the White House’s decision to allow retirement plans to alternative assets, including cryptocurrencies.

The fund allocates approximately 70% to bitcoin and 20% to ether. The product has been available in other forms since 2018, previously trading over the counter.

GDLC has increased by over 40% in 2025, coinciding with record highs for many cryptocurrencies. As June, GDLC has outperformed bitcoin by nearly 11%, with all four other assets in the fund surpassing the performance of the largest digital token.

“We are ushering in the age of crypto index investing,”

Understanding Crypto ETFs and Diversification

Exchange-Traded Funds (ETFs) offer investors a way to gain exposure to a basket of assets, such as cryptocurrencies, without directly owning them. This diversification can help manage risk and simplify the investment process.