SEC Ponders Options on Crypto Basket: Grayscale's Five-Coin ETF Gamble
Published Date: 4/14/2026
Notice
Summary
The SEC is deciding whether to let NYSE American list and trade options on the Grayscale CoinDesk Crypto 5 ETF, a fund made up of five popular cryptocurrencies. This change could open new ways for investors to trade crypto-related options starting soon, but the SEC is still reviewing the risks and rules. A final decision is expected by April 12, 2026, which could impact crypto investors and traders.
Analyzed Economic Effects
3 provisions identified: 1 benefits, 0 costs, 2 mixed.
SEC Reviews Crypto ETF Options
If you invest, the SEC has instituted proceedings to decide whether to allow NYSE American to list and trade options on the Grayscale CoinDesk Crypto 5 ETF (GDLC). The Commission designated April 12, 2026 as the date by which it must approve, disapprove, or institute proceedings regarding the proposal.
Proposed GDLC Options Terms
The proposed GDLC options would be physically settled with American-style exercise and would be subject to the Exchange's position and exercise limits under Rules 904 and 905. The Exchange says its existing surveillance and reporting safeguards would apply and that its systems and The Options Price Reporting Authority have capacity to handle the extra traffic.
GDLC Fund Composition Disclosed
GDLC is a five-asset crypto fund whose component weights as of November 21, 2025 were: Bitcoin 76.02%, Ether 14.90%, XRP 5.26%, Solana 3.15%, and Cardano 0.67%. If you hold or trade GDLC or its options, these percentages show which digital assets and relative exposure the fund would provide.
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