Grayscale CoinDesk Crypto 5 ETF Starts Trading on NYSE Arca
- The Crypto 5 ETF by Grayscale debuts on NYSE Arca.
- First U.S. multi-asset crypto ETF.
- Facilitates institutional investment in altcoins.
The Grayscale CoinDesk Crypto 5 ETF began trading on the NYSE Arca on September 19, 2025, becoming the first U.S.-listed multi-asset crypto ETF.
This marks a significant step in integrating traditional finance with digital assets, facilitating institutional investments and possibly influencing altcoin market dynamics.
The Grayscale CoinDesk Crypto 5 ETF commenced trading on the NYSE Arca on September 19, 2025. The ETF marks the first U.S.-listed multi-asset crypto ETF, highlighting a shift toward diversified digital asset investment.
Managed by Grayscale Investments, the Crypto 5 ETF, led by CEO Michael Sonnenshein, tracks the top five cryptocurrencies: Bitcoin, Ethereum, XRP, Solana, and Cardano. The fund’s inclusion was permitted by new SEC regulations.
Initial trading of the ETF saw $22 million in volume, illustrating significant market interest. The fund is expected to enhance institutional flows into altcoins and reduce market fragmentation.
The ETF’s year-to-date NAV growth of 81.11% surpasses Bitcoin’s performance, indicating potential diversification advantages. However, the fund incurs a 2.5% management fee, relatively high compared to similar products. Eric Balchunas, Senior ETF Analyst at Bloomberg, stated, “Good chance we see north of 100 crypto ETFs launched in the next 12mo.”
The approval of the first Bitcoin spot ETF in 2024 set a precedent for this launch. Similar ETFs in Europe hinted at positive effects like improved price discovery and token inflows.
The ETF’s launch comes under a regulatory landscape that now streamlines ETF approvals using the SEC’s generic listing standards. The product might include increased trading volumes in underlying components as the market response unfolds.
