The US Securities and Exchange Commission (SEC) has approved Grayscale Investments' application to list its Grayscale Digital Large Cap Fund (GDLC) as an ETP, CoinDesk reported on Thursday.
The fund, which holds Bitcoin, Ethereum, XRP, Solana, and Cardano, is the first multi-crypto product of its kind to receive approval.
This decision follows a previous delay in July and marks an important milestone as the SEC continues to approve a new wave of cryptocurrency investment vehicles.
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The fund currently manages more than $915 million in assets.
The SEC approved the GDLC alongside a key regulatory change: new simplified listing rules for cryptocurrency ETFs.
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SEC Chairman Paul Atkins stated that this approval aims to boost innovation and investor choice by making it easier to list digital asset products on trusted US capital markets.