New Breakthrough: First ETF with XRP Exposure Approved, Barry Silbert Responds

Jakarta, Pintu News – The endorsement of Grayscale Digital Large Cap Fund (GDLC) as the first multi-crypto exchange-traded fund (ETF) has received a positive response from Barry Silbert, founder of Digital Currency Group. Silbert called this a “groundbreaking” step in the industry.

Breakthrough by Grayscale

Grayscale, recognized as a leader in crypto asset management, is again pioneering with an innovative product that connects traditional financial markets with digital assets. According to Barry Silbert, this move marks a new era in global financial integration.

Peter Mintzberg, CEO of Grayscale, emphasized that his team is working hard to bring this product to market soon. The new ETF product not only covers Bitcoin (BTC) and Ethereum (ETH), but also offers exposure to several other major altcoins. These include Ripple (XRP), Solana (SOL), and Cardano (ADA), with Ripple (XRP) accounting for 5.2% of the total fund, making it the third largest constituent in the fund.

Also Read: Jake Claver, CEO of Digital Ascension Group’s Shocking Prediction: XRP Will Break $25!

ETF “Combo” Details

The ETF was initially launched as a private placement for accredited investors in early 2018 and later its shares were made available on the over-the-counter (OTC) market. With total assets of $915.6 million as of September 17, this ETF offers broad diversification in a single product.

In early July, the US Securities and Exchange Commission (SEC) approved the conversion of GDLC into an ETF. However, this decision was halted for “review” soon after the approval was granted. This decision marks an important step in the evolution of crypto-related financial products.

Crypto ETF Pioneer

Grayscale has been recognized as a pioneer in the crypto ETF trend, especially after winning a legal case against the SEC. This success paved the way for the approval of a Bitcoin (BTC) ETF as early as 2024, followed by an Ethereum (ETH) ETF.

Grayscale’s main foundation, GBTC, currently has over $20.5 billion in net assets. This shows the great confidence and interest of investors in the products offered by Grayscale, as well as the potential for significant growth in the crypto ETF industry.

Conclusion

The approval of the Grayscale Digital Large Cap Fund ETF marks a significant milestone in the history of digital financial markets. By combining major crypto assets in a single product, Grayscale not only expands investor access to crypto markets but also sets a new standard in innovative financial products.

Also Read: Maartunn Analyst Says December 2024 Crypto Market Pattern Repeats, What Does It Mean?

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Reference

• U.Today. Groundbreaking: Barry Silbert Reacts to Approval of ETF with XRP Exposure. Accessed on September 19, 2025