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Grayscale CoinDesk Crypto 5 ETF (NYSEARCA:GDLC), which has delivered an impressive 145% return over the past year and currently trades near $56, announced on Monday that Simon Koster has been appointed as a director on the board of GSO Intermediate Holdings Corporation, which is the sole managing member of Grayscale Operating, LLC and the sole member of Grayscale Investments Sponsors, LLC, the sponsor of the ETF. The appointment follows the departure of Matthew Kummell from the board, effective the same day.
According to a statement in the SEC filing, Simon Koster currently serves as Chief Strategy Officer at Digital Currency Group, Inc. In this role, he leads the investment team managing a portfolio that includes digital assets, wholly owned subsidiaries, and over 250 early-stage companies in more than 35 countries as of the filing date. The appointment comes as GDLC, with its market capitalization of $893 million, trades within 10% of its 52-week high of $61.89.For detailed analysis and additional insights about GDLC’s performance metrics, visit InvestingPro, which offers exclusive financial metrics and investment tips.
Before his current position, Koster was CEO of Real Estate at Digital Currency Group and previously served as CEO of The Collective. He also has experience with JDS Development Group, where he worked on residential, hospitality, and mixed-use projects in New York City and Miami. Koster holds a Bachelor of Science from Rutgers University and a Master’s degree in Engineering from the University of Michigan.
Koster has served on the boards of Foundry and Luno since 2023, has been a director at Fortitude since 2024, and joined the board of Yuma in 2025. Each of these companies is affiliated with Grayscale.
The information in this article is based on a statement from the company’s SEC filing.
In other recent news, Grayscale CoinDesk Crypto 5 ETF has made significant updates to its operational framework. The ETF, managed by Grayscale Investments Sponsors, LLC, recently began trading on NYSE Arca. This development follows the establishment of new Participant Agreements with Jane Street Capital, Macquarie Capital (USA), and Virtu Americas, which will act as Authorized Participants for the fund. These firms will handle the creation and redemption of shares in blocks of 10,000, referred to as "Baskets," exclusively through cash transactions due to pending regulatory approvals for in-kind digital asset transactions.
Additionally, the ETF updated its service agreements, entering a new prime broker agreement with Coinbase, Inc. The agreement, which includes Coinbase Custody Trust Company and Coinbase Credit, replaces the previous arrangement. Coinbase Custody will continue to provide custodial services for the fund’s digital assets. These changes reflect Grayscale’s strategic adjustments to enhance the operational capabilities of its ETF.
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