Grayscale CoinDesk Crypto 5 ETF

GDLC converted from Grayscale Digital Large Cap Fund LLC and begins trading with 865 million in assets It offers passive exposure to the five largest and most liquid digital assets by marketcap Largest is defined by circulating supply and most liquid is defined by 90day daily valued traded In addition to marketcap asset selection is based on liquidity custodian availability platform listings and other criteria with Bitcoin and Ether as core components The index excludes stablecoins memecoins privacygas tokens wrapped tokens staked or pegged assets Reconstitutions are conducted quarterly GDLC is regulated under Cayman Islands law It is not subject to the same regulations and protections as 40Act ETFs Initially launching as a private fund in 2018 it began trading OTC in 2019 Prior to June 5 2025 the mutual fund tracked the CoinDesk Large Cap Select Index DLCS and experienced large premiums and discounts The NAV for the fund is calculated each day at 400pm EST by digital asset trading platforms US investors are required to file a 8621 form each year at tax time regarding PFIC