Finance

SEC Gives Green Light to Grayscale's Game-Changing Multi-Crypto Index ETF: XRP, SOL, and ADA Set to Soar!

2025-07-02

Author: Jia

SEC Approves First Multi-Crypto Index ETF

In a groundbreaking move for the cryptocurrency market, the U.S. Securities and Exchange Commission (SEC) has officially approved Grayscale's Digital Large Cap Fund (GDLC) to transform into a multi-crypto asset ETF! This approval opens the door to a whole new world of investment opportunities, allowing traders to gain exposure to several leading altcoins—beyond just Bitcoin (BTC) and Ethereum (ETH).

This ETF will make its debut on NYSE Arca and includes a diverse range of assets: BTC, ETH, XRP, Solana (SOL), and Cardano (ADA). With an impressive $754 million in assets under management, GDLC is set to shake up the landscape of cryptocurrency investments.

What's Next? More Altcoin ETFs on the Horizon!

Industry experts are buzzing with excitement and speculation about what's next after this monumental decision. Analysts believe that the Bitwise 10 Crypto Index Fund (BITW) could be on the SEC’s chopping block for approval as well, with a deadline looming on July 31. James Seyffart, a senior ETF analyst at Bloomberg, confidently noted, "Approval was our expectation. The fund is over 90% Bitcoin and Ethereum. The next big date is Bitwise’s BITW deadline of July 31. But the SEC could obviously go early…"

A New Dawn for XRP, SOL, and ADA?

This moment is not just about Grayscale; it signals a larger trend that could see individual ETFs for XRP, SOL, and ADA following suit. Nate Geraci from ETFStore emphasized, "XRP, SOL & ADA will now be available in '33 Act ETF wrapper… See where this is all heading? Individual spot XRP, SOL, ADA, etc., ETFs up next." The anticipation is palpable!

Market Reactions: Whales and Price Movements!

While the excitement brews, market dynamics are shifting as well. XRP whale wallets holding between 1 million to 100 million tokens have remained stable after significant accumulation last month. However, a larger whale, possessing between 100 million to 1 billion XRP tokens, dumped over 400 million XRP in just 24 hours, causing a notable 6% price drop.

In contrast, ADA whales seem to be bullish, as the top wallets with holdings of 1 million to 1 billion ADA tokens have been consistently accumulating since mid-June. This activity hints at their confidence in a potential surge in prices, potentially spurred by ETF approvals.

The Crypto ETF Summer is Heating Up!

Despite a slow start to Q3, the crypto ETF summer is truly upon us! With the SEC already approving SOL ETFs and focusing on crypto index options, the spotlight is now firmly on individual approvals for SOL, XRP, and ADA.

With whale movements and positive sentiment surrounding ETF prospects, the market outlook is looking brighter than ever. Buckle up, crypto enthusiasts—this rollercoaster is just getting started!