SEC Greenlights First Multi-Asset Crypto ETP with Bitcoin, Ethereum Exposure

The SEC has approved Grayscale's Digital Large Cap Fund as America's first multi-asset cryptocurrency exchange-traded product (ETP). The fund offers exposure to five major digital assets: Bitcoin, Ethereum, XRP, Solana, and Cardano.

The approval utilizes new generic listing standards designed to accelerate crypto ETP reviews across Nasdaq, NYSE Arca, and Cboe BZX exchanges. This streamlined process eliminates individual application assessments, significantly speeding approval timelines for future products.

The fund currently holds over $915 million in assets under management with a net asset value per share of $57.7. Grayscale CEO Peter Mintzberg announced the approval, thanking the SEC Crypto Task Force for regulatory clarity efforts.