Key Takeaways
- • Grayscale CoinDesk Crypto 5 ETF (GDLC) added three trading platforms—OSL, Bybit, and Gemini—to its index pricing calculation effective May 19, 2026, following CoinDesk Indices' scheduled monthly review and platform qualification assessment.
- • The fund's index pricing methodology now incorporates 11 platforms for Bitcoin-USD and Ether-USD pairs (Binance, Bitstamp, Bullish, Bybit, Crypto.com, Gemini, HashKey, Kraken, LMAX Digital, OKX, and OSL), with Bitcoin and Ether gaining the most extensive coverage across exchanges.
- • GDLC trades at $34.78 with a market capitalization of $426 million, down approximately 16% year-to-date and 23% over the past 12 months, reflecting broader cryptocurrency market headwinds despite the operational platform expansion.
- • Index prices are calculated daily at 4:00 p.m. New York time using weighted pricing from the constituent platforms, with no existing platforms removed as part of this update—representing a net expansion of venue coverage for price discovery.
Summary
Grayscale CoinDesk Crypto 5 ETF disclosed in an SEC filing on May 19, 2026, that CoinDesk Indices, Inc., the fund's index provider, expanded the digital asset trading platforms used to calculate component index prices. Three platforms—OSL, Bybit, and Gemini—were added to the pricing methodology after meeting the index provider's operational and liquidity standards. The additions represent the fund's effort to broaden price discovery across major cryptocurrency trading venues while maintaining index integrity.
Following the update, Bitcoin-USD and Ether-USD trading pairs now derive pricing from 11 platforms: Binance, Bitstamp, Bullish, Bybit, Crypto.com, Gemini, HashKey, Kraken, LMAX Digital, OKX, and OSL. Solana (SOL-USD) pricing excludes only Bullish from this list, while Binance Coin (BNB-USD) pricing includes five platforms: Binance, Bitstamp, Gemini, Kraken, and OKX. The fund calculates the U.S. dollar value of each holding by referencing index prices derived from selected platforms at 4:00 p.m. New York time on each business day. No existing platforms were removed in this monthly review cycle.
The fund's operational profile reflects significant market headwinds. GDLC currently trades at $34.78, representing a 16% year-to-date decline and a more pronounced 23% decline over the trailing 12-month period. With a market capitalization of $426 million, the fund tracks a basket of large-cap digital assets (Bitcoin, Ether, Solana, Avalanche, and Polkadot) while providing institutional and retail investors exposure to cryptocurrency without direct asset custody. The platform expansion aims to enhance pricing accuracy and reduce execution risk across the fund's constituent holdings, though near-term performance remains pressured by broader crypto market conditions.
Following the update, Bitcoin-USD and Ether-USD trading pairs now derive pricing from 11 platforms: Binance, Bitstamp, Bullish, Bybit, Crypto.com, Gemini, HashKey, Kraken, LMAX Digital, OKX, and OSL. Solana (SOL-USD) pricing excludes only Bullish from this list, while Binance Coin (BNB-USD) pricing includes five platforms: Binance, Bitstamp, Gemini, Kraken, and OKX. The fund calculates the U.S. dollar value of each holding by referencing index prices derived from selected platforms at 4:00 p.m. New York time on each business day. No existing platforms were removed in this monthly review cycle.
The fund's operational profile reflects significant market headwinds. GDLC currently trades at $34.78, representing a 16% year-to-date decline and a more pronounced 23% decline over the trailing 12-month period. With a market capitalization of $426 million, the fund tracks a basket of large-cap digital assets (Bitcoin, Ether, Solana, Avalanche, and Polkadot) while providing institutional and retail investors exposure to cryptocurrency without direct asset custody. The platform expansion aims to enhance pricing accuracy and reduce execution risk across the fund's constituent holdings, though near-term performance remains pressured by broader crypto market conditions.
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