SEC Approves First Multi-Asset Crypto ETP, Includes Bitcoin and Ethereum

Grayscale Digital Large Cap Fund received SEC approval 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 (

) through traditional market channels.

The

utilizes new generic listing standards designed to accelerate crypto exchange-traded fund (

) reviews across Nasdaq, NYSE Arca, and Cboe BZX exchanges. This streamlined process eliminates individual application assessments, significantly speeding approval timelines for future products.

CEO Peter Mintzberg announced the approval, thanking the SEC Crypto Task Force for regulatory clarity efforts.

The fund currently holds over $915 million in assets under management with a $57.7 net asset value per share. This substantial size demonstrates existing investor appetite for multi-asset cryptocurrency products within traditional investment frameworks.

The SEC Crypto Task Force, established by acting Chair Mark Uyeda under Commissioner Hester Peirce's leadership, represents a significant shift from previous enforcement-heavy approaches. The task force focuses on developing clear regulatory frameworks rather than pursuing litigation strategies.