- Analysts highlight GDLC as a strong contender for regulatory approval, boosting hopes for broader crypto ETF adoption.
- GDLC’s NAV rose 13.53% in a month, with a 26.53% quarterly market price surge, signaling robust demand.
- Analysts suggest the Large Cap Fund could receive approval before a spot SOL ETF, amid rising market anticipation.
The Grayscale Digital Large Cap Fund (GDLC) may be the next cryptocurrency product to gain approval from regulators, according to analyst NateGeraci. The fund, which first opened in 2018, offers investors a way to gain broad exposure to a range of digital assets without directly buying and holding the tokens themselves.
Some market analysts view this fund as a key candidate for approval due to its structure and the growing interest from both institutional and retail investors in a more convenient way to gain exposure to well-established cryptocurrencies.
Large Cap Fund Shows Rising Investor Appeal
Grayscale submitted a filing with the U.S. Securities and Exchange Commission (SEC) back in April to convert the fund into an exchange-traded fund (ETF). The fund currently holds nearly $800 million in assets under management, and it is a very significant vehicle for diversified market exposure.
The fund comprises a basket of large-cap digital tokens. Currently, Bitcoin makes up nearly 79.4% of its holdings, while Ethereum comprises about 11.2%. XRP, Solana, and Cardano follow with 4.9% weight for XRP, 3.1% weight for Solana, and around 1% for Cardano.
As of May 31, the fund’s net asset value (NAV) had gained 13.53% for the month and 21.01% for the quarter. Market price movements were even more pronounced, with a 16.06% rise in a single month and 26.53% over a quarter, reflecting strong buying pressure. This move signals a growing maturity in the digital asset market, where fund providers are looking for more flexible products that align with traditional financial structures.
Market Expectations Surround Approval Timeline
Some analysts say the fund may win approval even before a spot Solana (SOL) fund, which many believed would be next in the pipeline. The view comes after the approval of a mixture fund by regulators last December — a fund that bundled Bitcoin and Ethereum.
Meanwhile, Polymarket data shows a 24% chance for a spot SOL fund by this summer, although many expect this number to rise toward 77% by year’s end. Market participants are now closely watching whether the Grayscale Large Cap fund will clear the regulators’ hurdle first.
