The focus keyphrase is XRP ETF approval, central to today’s development: Grayscale’s flagship diversified product has become the Grayscale CoinDesk Crypto 5 ETF, now trading on NYSE Arca. According to the company, the XRP ETF approval context matters because XRP is a core holding in the revamped fund.
GDLC wins SEC green light
Grayscale’s Digital Large Cap Fund (GDLC) has been rebranded as the Grayscale CoinDesk Crypto 5 ETF after securing SEC approval on September 17, 2025. The ETF began trading on NYSE Arca on September 19, 2025. The XRP ETF approval angle is notable here, since the product pools leading assets under new generic listing standards for crypto ETPs.
Grayscale CEO Peter Mintzberg called the approval a “historic milestone” for the digital asset industry, and observers see a potentially streamlined path for similar products ahead.
XRP joins top crypto lineup
The ETF holds Bitcoin, Ethereum, Solana, XRP, and Cardano. XRP is the third-largest holding at 5.2% of the portfolio, according to Grayscale’s materials. This placement ties directly to the XRP ETF approval narrative, which highlights growing inclusion of XRP in institutional-style products.
Grayscale reports the fund manages over $915 million in assets. Under the SEC’s new generic listing standards, exchanges can list certain crypto ETPs that meet predefined criteria. For background on crypto ETP structures, see this overview of exchange-traded products.
Why this matters
Market participants may watch how allocations shift as assets rebalance.
- New standards could speed future approvals.
- XRP’s 5.2% weight signals broader representation.
- NYSE Arca listing boosts accessibility for traders.
However, performance will still depend on underlying market conditions. For a deeper primer on fiat-pegged assets often used in trading pairs, read our guide on how stablecoins work.
