THE SECURITIES AND EXCHANGE COMMISSION (Sec) has approved the Convert of Digital Large Cap Fund of Grayscale (GDLC) In a funds exchanged by the exchange (ETF)A filing show.
Funds track the price of Bitcoin
Ethereum, XRP, Solana and Cardano. Most of the weight of the fund, currently about 80%, is in Bitcoin. SEC letter on Tuesday noted that the fund was made up of CoinDesk 5 index (CD5).
The GDLC was launched in February 2018 and has since attracted nearly $ 755 million in possessions under management. It has a 2.5% cost ratio.
In a statement, CoinDesk’s product and research leader Andy Baehr said, “We are pleased to see the SEC approved, which sets the way for this grayscale fund, which has set up the CoinDesk 5 index, which can be applied as an ETF, and enabling investors and advisors product. ”
Crypto Asset Manager Bitwise will next to receive a decision from the SEC to convert his Bitwise 10 Crypto Index Fund (A bitch) in an ETF. Bitw holds 79% in Bitcoin and the rest of Ethereum, XRP, Sol, Ada, Sui
Chainlink, Avalanche, Litecoin and Polkadot.
