Catenaa, Saturday, September 20, 2025- The US Securities and Exchange Commission has approved Grayscale’s Digital Large Cap Fund, giving the green light to the first multi-crypto exchange-traded product in US markets.
The fund, which provides exposure to bitcoin, ether, XRP, Solana, and Cardano, had previously traded only over-the-counter.
Its approval comes as the SEC adopts generic listing standards for crypto ETFs, designed to accelerate fund launches and cut approval delays.
Grayscale CEO Peter Mintzberg said the fund’s listing marks a milestone for crypto investment products, adding that regulatory clarity is key to broadening market access.
Grayscale reported that the fund holds more than $915 million in assets under management with a net asset value of $57.7 per share.
The SEC’s accelerated adoption of generic listing rules is expected to ease the path for dozens of pending crypto ETFs, potentially boosting investor choice.
Analysts said the framework could lead to more than 100 crypto ETFs being launched within the next year, a surge not seen since the last time similar listing standards were introduced.
SEC Chair Paul Atkins said the approval aims to expand investor access and encourage innovation while keeping activity within US capital markets.
The move is part of a broader regulatory shift to normalize crypto-based products and integrate them with traditional finance.
Industry observers said the combined approval of Grayscale’s fund and the new ETF standards marks a turning point for the digital asset sector in regulated markets.
