Grayscale CoinDesk Crypto 5 ETF

GDLC

Market cap $354M

Grayscale CoinDesk Crypto 5 ETF has transitioned to an ETF structure but remains uncompetitive due to its 0.59% expense ratio. GDLC simply aggregates large-cap cryptocurrencies, offering no alpha or unique selection process, and can be easily replicated at much lower cost. Comparable single-asset crypto ETFs and the Franklin Crypto Index ETF offer similar exposures with expense ratios as low as 0.13%-0.25%.

Bitcoin has plunged by 44% from its all-time high in October 2025, either sending skittish speculators running or prompting those bullish with a long-term horizon to dig in and firm up their positions. However, those in the cryptocurrency sphere may be missing out on opportunities if they only focus on the biggest name in digital currency.

FBTC offers a much lower expense ratio and a highly concentrated portfolio, while GDLC charges more for a diversified crypto basket. Both funds posted negative one-year returns and experienced sharp drawdowns, highlighting the risk of digital asset exposure.

Among the current wave of altcoin ETF launches, a growing number of products are hitting the market that many advisors and investors still don't know well. Bitcoin has a strong narrative at this point, and even ethereum's story is becoming more mainstream — but other altcoins still remain relatively under-the-radar.

The launch of multi-token crypto products (i.e., crypto index ETFs) signals that many issuers believe the next growth phase in crypto ETFs will be driven by investors who want a rules-based basket approach rather than single asset calls.

In a year marked by shifting interest rates, evolving credit markets, and growing investor appetite for alternative assets, several new funds have debuted, each designed to meet the changing needs of today's diversified portfolios.

STAMFORD, Conn., Oct. 06, 2025 (GLOBE NEWSWIRE) -- Grayscale Investments®, the world's largest digital asset-focused investment platform*, today announced a major industry first: Grayscale Ethereum Trust ETF (Ticker: ETHE) and Grayscale Ethereum Mini Trust ETF (Ticker: ETH) have become the first U.S.-listed spot crypto ETPs to enable staking.

Spot crypto exchange-traded funds (ETFs) have attracted significant inflows of capital since the first ones were approved at the start of 2024. They offer a regulated and accessible way for institutional and retail investors to add crypto to their portfolios, but they've mostly only included Bitcoin (BTC 2.17%) and Ethereum (ETH 2.41%).

Two recent Securities and Exchange Commission decisions should lead to a wave of new ETFs. Crypto ETFs covering more digital currencies, such as solana and XRP, are to be expected in the months ahead after the SEC greenlit an expedited listing process.

Last week, the SEC approved rule changes that are likely to further result in an even greater supply of cryptocurrency related exchange traded products. In January 2024, the first wave of spot bitcoin ETFs began trading in the U.S. Demand for these products was stronger than many expected, including me.