Grayscale’s Game-Changer: SEC Greenlights 5-Coin ETF Targeting $1B, Set to Shake Bitcoin Dominance

Wall Street's crypto embrace just leveled up—Grayscale scores regulatory approval for a multi-asset ETF that's aiming straight for the giants.

Five coins, one billion dollars

The SEC nod clears the path for a diversified crypto fund that could attract institutional money previously sitting on the sidelines. Grayscale's move signals that regulators are finally warming up to digital assets beyond Bitcoin—though they'll probably still take their sweet time with the next approval.

Challenging the Bitcoin monopoly

This isn't just another ETF—it's a direct shot across the bow of single-asset funds that have dominated the landscape. By bundling multiple cryptocurrencies, Grayscale gives investors exposure to the broader crypto ecosystem without the hassle of managing multiple positions. Because who has time for that when there's money to be made?

The billion-dollar question isn't if it'll hit that target—it's how quickly traditional finance will realize they're late to the party again.

‘Second-largest crypto ETF’

Meanwhile, market analysts see the decision as a potential inflection point for multi-asset crypto funds.

Bloomberg’s James Seyffart noted that basket-style ETFs could quickly evolve into the second- or third-largest category of digital asset products, following single-asset Bitcoin ETFs, provided demand holds steady.

Notably, investor interest in crypto ETFs has proven strong over the past year.

According to SoSoValue data, Bitcoin-focused funds, launched last year, now manage more than $100 billion in assets, with net inflows of $57.33 billion to date. On the other hand, ethereum funds have seen over $13 billion in inflows, managing around $30 billion in assets.

That precedent has fueled speculation that GDLC could attract meaningful inflows once trading begins.

According to Grayscale’s website, the fund’s net asset value is $58 per share, with assets under management exceeding $931 million. The site also shows that the fund has 72% of its assets in Bitcoin, 17% in Ethereum, around 6% in XRP, 4% in solana and 1% in Cardano.