Grayscale CoinDesk Crypto 5 ETF Announces Change in Constituent Trading Platforms
Key Highlights:
- Grayscale CoinDesk Crypto 5 ETF (NYSE Arca: GDLC) filed a Form 8-K dated March 17, 2026, reporting a significant update regarding the calculation of its underlying Index Price for several fund components.
- The ETF’s Index Provider, CoinDesk Indices, Inc., has added Binance as a Constituent Trading Platform for Ether (ETH-USD), Solana (SOL-USD), and Binance Coin (BNB-USD) trading pairs, effective March 17, 2026.
- This change follows the Index Provider’s scheduled monthly review, where Binance met the inclusion criteria. No trading platforms were removed during this review.
Detailed Article:
On March 17, 2026, Grayscale CoinDesk Crypto 5 ETF (“the Fund”) reported an important update in its method for calculating the daily Index Price of its underlying digital asset holdings. The Index Price is crucial for determining both the operational value and the net asset value (NAV) of the ETF, which in turn can impact the share price and investor returns.
The Index Provider, CoinDesk Indices, Inc., conducts scheduled monthly reviews of digital asset trading platforms used for price calculation. In this review, Binance was added to the list of Constituent Trading Platforms for the following trading pairs:
- Ether (ETH-USD)
- Solana (SOL-USD)
- BNB (BNB-USD)
This means that, starting March 17, 2026, Binance’s pricing data will be included alongside existing platforms for these assets, potentially influencing the daily Index Price. The full list of platforms for each asset component now includes:
- SOL-USD Trading Pairs: Bitfinex, Bitstamp, Bullish, Crypto.com, Gemini, Kraken, LMAX Digital, OKX, and Binance
- BNB-USD Trading Pairs: Kraken, OKX, Bitstamp, and Binance
- BNB-USDC Trading Pairs: Binance, Bybit, Gate, Kraken, OKX
No Constituent Trading Platforms were removed in this review, and the ETF’s approach remains consistent with its methodology for operational price determination. The Index Price is calculated at 4:00 p.m. New York time on each business day based on the CoinDesk Benchmark Rate.
Implications for Shareholders and Investors:
- This change is potentially price-sensitive, as the inclusion of Binance—a major global exchange with high liquidity and trading volume—could affect the volatility and accuracy of the Index Price for ETH, SOL, and BNB. If Binance’s prices differ materially from other platforms, NAV fluctuations and share price movements may occur.
- The ETF’s share value could be impacted by shifts in the underlying Index Price, especially for investors tracking performance or executing arbitrage strategies.
- The Index Provider retains discretion to add or remove trading platforms at any time as part of ongoing reviews. Investors should be aware that future changes may continue to affect price calculations and ETF performance.
- There are no other operational changes or amendments reported in this filing. The ETF remains classified as an emerging growth company and has not elected to use the extended transition period for new or revised accounting standards.
Other Information:
- There were no written communications, soliciting material, or pre-commencement tender offers associated with this filing.
- The ETF’s shares are listed on NYSE Arca under the trading symbol “GDLC”.
- Grayscale Investments Sponsors, LLC continues to manage the ETF.
Disclaimer:
This article is for informational purposes only and does not constitute investment advice, an offer, or solicitation to buy or sell securities. Investors should conduct their own due diligence and consult with a qualified financial advisor before making any investment decisions. The information presented is based on official regulatory filings and may be subject to further updates or clarifications.
View Grayscale CoinDesk Crypto 5 ETF Historical chart here
