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Grayscale CoinDesk Crypto 5 ETF (NYSEARCA:GDLC) announced changes to the digital asset trading platforms used to calculate its index price for several fund components, according to a statement released in a recent SEC filing. The fund, currently trading at $39.98 with a market capitalization of $505.29 million, has experienced notable volatility in recent months.
CoinDesk Indices, Inc., the index provider for the fund, removed the itBit trading platform from the list of constituent trading platforms for Bitcoin, Ether, and SOL effective Monday. The decision was made because itBit did not meet the index provider’s conditions for inclusion in the index prices for those cryptocurrencies.
As a result, the following platforms are now used to determine the U.S. dollar value of each fund component for Bitcoin-USD, Ether-USD, and SOL-USD trading pairs: Bitfinex, Bitstamp, Bullish, Crypto.com, Gemini, Kraken, LMAX Digital, and OKX. For Bitcoin-USDC, Ether-USDC, and SOL-USDC trading pairs, the platforms include Bitstamp, Bullish, Bybit, Kraken, and OKX.
The fund’s other components, including XRP and ADA, continue to use their existing lists of trading platforms for both USD and USDC trading pairs. The platform lists are reviewed monthly and may be adjusted by the index provider if platforms meet or fail to meet specified criteria.
The Grayscale CoinDesk Crypto 5 ETF values its holdings by referencing an index price calculated from the listed trading platforms each business day at 4:00 p.m. New York time.
This information is based on a press release statement included in the fund’s Form 8-K filing with the Securities and Exchange Commission.
In other recent news, Grayscale CoinDesk Crypto 5 ETF has made several notable announcements. The ETF reported the appointment of Simon Koster as a director on the board of GSO Intermediate Holdings Corporation. Koster, who serves as Chief Strategy Officer at Digital Currency Group, Inc., steps in following the departure of Matthew Kummell. Additionally, the ETF has updated its prime broker and administration agreements, now partnering with Coinbase, Inc. for custodial and prime brokerage services, replacing the previous agreement from June 2025. The fund will continue to use Coinbase Custody Trust Company, LLC as its custodian.
Grayscale CoinDesk Crypto 5 ETF also began trading on NYSE Arca, reflecting updates in its operational agreements. The fund has entered into new Participant Agreements with Jane Street Capital, LLC, Macquarie Capital (USA) Inc., and Virtu Americas LLC. These firms will act as Authorized Participants, facilitating the creation and redemption of shares in specified blocks. Currently, transactions are conducted in cash, as regulatory approval for in-kind digital asset transactions remains pending.
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