Grayscale Investments® Announces Rebalancing of Multi-Asset Funds for First Quarter 2025
Grayscale Investments Fund Adjustments: Grayscale Investments announced updated weightings for its various crypto funds, including the Digital Large Cap Fund, DeFi Fund, Smart Contract Fund, and Decentralized AI Fund, reflecting changes in asset allocations based on their respective index methodologies as of April 3, 2025.
Investment Risks and Objectives: All Grayscale funds do not generate income and are subject to market volatility, with shares potentially trading at premiums or discounts to the value of underlying assets, emphasizing the risks associated with investing in these digital asset products.
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Name Change Announcement: Grayscale Investments Sponsors, LLC plans to rename the Grayscale XRP Trust to Grayscale XRP Trust ETF (GXRP) effective November 21, 2025.
Trading Symbol Update: The Trust's shares will begin trading under the new name and symbol "GXRP" on NYSE Arca on or about November 24, 2025.
Stock Certificates Validity: Existing stock certificates for the Trust will remain valid and do not need to be exchanged due to the name change.
Listing Timeline Uncertainty: There is no guarantee that the GXRP shares will be listed or start trading on the anticipated timeline.

Launch of New Crypto ETFs: 21Shares has introduced two new crypto index ETFs, the 21Shares FTSE Crypto 10 Index ETF (TTOP) and the 21Shares FTSE Crypto 10 ex-BTC Index ETF (TXBC), which are the first crypto index products registered under the Investment Company Act of 1940.
Investment Strategy and Fees: TTOP includes Bitcoin and charges a 0.50% fee, while TXBC focuses on blockchain applications without Bitcoin and charges 0.65%. Both funds offer a regulated way for investors to access a diversified basket of digital assets.
Market Context and Expectations: The launch occurs in a challenging market environment, with Bitcoin's value dipping below $100,000. 21Shares anticipates a slower uptake for these multi-coin funds compared to Bitcoin-focused products.
Industry Competition: The introduction of these ETFs comes as asset managers are actively trying to launch spot altcoin ETFs, with only two existing multi-coin index ETFs under the '33 Act, highlighting the competitive landscape in the crypto investment space.
Grayscale Near Trust Launch: Grayscale has launched the Grayscale® Near Trust (GSNR), which is now trading on OTCQB, allowing investors to gain exposure to the NEAR token, a blockchain platform designed for AI use cases.
Investment Strategy and Innovation: The listing reflects Grayscale's commitment to evolving its products from private placements to public offerings, emphasizing the importance of on-chain innovation for future investment opportunities.
Grayscale's New ETF Launch: Grayscale Investments has launched the Grayscale CoinDesk Crypto 5 ETF (GDLC), which diversifies exposure across five major cryptocurrencies: Bitcoin, Ethereum, XRP, Solana, and Cardano, with an expense ratio of 0.59%.
Regulatory Changes Favoring Crypto ETFs: The SEC's recent approval of new listing standards for crypto exchange-traded products (ETPs) is expected to expedite the approval process for new funds, potentially leading to a surge in crypto ETFs as investors increasingly prefer regulated investment vehicles.

New Investment Vehicle: A new investment option was launched that allows investors to access a lesser-known cryptocurrency through traditional brokerage accounts, indicating growth in the digital asset market.
Caution Advised: Analysts suggest this development may lead to more exchange-traded funds (ETFs) for smaller digital assets, but they recommend that investors proceed with caution.

Grayscale Fund Conversion: Grayscale has received SEC approval to convert its Digital Large Cap Fund into a spot crypto exchange-traded fund, which is primarily focused on Bitcoin but also includes other cryptocurrencies like Ether and XRP.
Fund Details: The GDLC fund, launched in February 2018, manages $659.8 million in assets with a 2.50% expense ratio, and recently introduced a new fund investing in the SXT token from the Space and Time blockchain.






