Grayscale ETF Tracking BTC, ETH, XRP, SOL and ADA Files to Enable Options Trading

Key Insights:

• Grayscale CoinDesk Crypto 5 ETF (GDLC) seeks options trading approval from the US SEC.
• NYSE American filed with the Commission to list and trade options.
• The options trading on Grayscale ETF is equivalent to options trading in other assets, including the BlackRock Bitcoin ETF.
• Bitcoin, Ethereum, and XRP continued to fall amid US jobs data jitters.

Crypto asset manager Grayscale Investments plans to offer options trading on the CoinDesk Crypto 5 ETF (GDLC). NYSE American filed with the U.S. SEC to list and trade options on the ETF.

The Grayscale ETF consists of Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). This comes amid massive demand for options trading on crypto exchange-traded funds.

Grayscale Coindesk Crypto 5 ETF Moves to Enable Options Trading on NYSE Arca

According to the latest US SEC notice, NYSE American filed a proposed rule change. The exchange seeks approval to list and trade options on the Grayscale CoinDesk Crypto 5 ETF (GDLC).

The proposal targets amendments to specific NYSE American rules for listing and trading physically settled, American-style options on GDLC shares.

The options trading will perform similarly to commodity-based trusts, such as SPDR Gold Trust and iShares Silver Trust. Notably, crypto assets such as Bitcoin, Ethereum, and XRP are classified as commodities by regulators.

It mentions positions, exercise limits, and guidelines for single-crypto ETPs like the iShares Bitcoin Trust (IBIT).

NYSE Arca believes that its surveillance procedures are adequate. Also, options trading would increase competition for order flow, benefiting investors.

The exchange would initially open at least one expiration month, with possibilities for weekly, monthly, quarterly, or long-term (LEAPS) series.

Grayscale Crypto ETF Holdings

Grayscale ETF tracks a basket of Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). It aims to offer investors diversified exposure to major digital assets.

GDLC was approved by the SEC as a spot ETF under the Generic Listing standards in September. At the time of writing, the fund’s allocations are as 75.20% in BTC, 15.69% in ETH, and 5.41% in XRP.

Moreover, Solana represents 3.09% and Cardano (ADA) is 0.61% of the GLDC fund holdings. It provides broad exposure in a single, regulated investment product.

Grayscale seeks to provide investors with greater flexibility and risk management tools through options contracts, which allow traders to hedge positions or speculate on price movements.

If approved, the move would mark one of the first multi-asset crypto ETFs in the US to offer options trading, further integrating digital assets into mainstream financial markets.

The US SEC has already approved options trading on spot Bitcoin ETFs such as the BlackRock Bitcoin ETF (IBIT).

Bitcoin, ETH, and XRP Price Action

Bitcoin price fell below $90,000 amid selling pressure in the broader crypto market. This is due to US jobs data and crypto options expiry jitters.

BTC price was trading at $89,970 at the time of writing. The 24-hour low and high were $89,578 and $92,189, respectively.

Analyst Ted Pillows claimed I still think Bitcoin will hit $98,000-$100,000 before any major downtrend.

ETH price also fell towards the key $3,000 level. The intraday low and high were $3,052 and $3,190, respectively.

ETH lost its key support level, and the next crucial support zone is in $3,020-$3,050. If Ethereum holds this level, an upside momentum will start.

XRP price has tumbled to a 24-hour low of $2.07. It happened as spot XRP ETFs saw their first-ever outflow of $40.80 million.