Citing U.Today, Barry Silbert, founder of Digital Currency Group, has praised the approval of the Grayscale Digital Large Cap Fund (GDLC) as a multi-crypto exchange-traded fund (ETF), calling it 'groundbreaking.' The ETF includes exposure to Bitcoin, Ethereum, and major altcoins like XRP, Solana, and Cardano. XRP holds a 5.2% share, making it the third-largest component. Initially launched in 2018 for accredited investors, the fund's shares later became available on OTC markets. The SEC approved its conversion to an ETF in July, but it was paused for review. As of September 17, the fund manages $915.6 million in assets. Grayscale is credited with igniting the cryptocurrency ETF trend after a court victory against the SEC. The SEC approved Bitcoin ETFs in early 2024, followed by Ethereum ETFs. Grayscale's GBTC holds over $20.5 billion in net assets.
Barry Silbert Hails Grayscale's XRP-Exposed ETF as 'Groundbreaking'
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