Grayscale has completed its quarterly rebalancing of the Grayscale CoinDesk Crypto 5 ETF (GDLC), increasing the weightings of XRP, Solana (SOL), and Bitcoin (BTC) while reducing the allocation to Ethereum (ETH). The firm also adjusted the weighting of BNB, though specific details on the direction of that change were not disclosed.
What changed in the GDLC fund
The GDLC ETF tracks the CoinDesk Crypto 5 Index, a market-cap-weighted benchmark of the five largest digital assets. Grayscale's rebalancing, executed this week, reflects the latest index composition. XRP, SOL, and BTC each saw their shares in the fund rise. ETH's weighting was cut. BNB's allocation was also tweaked, but Grayscale did not say whether it increased or decreased.
Why the shift matters
GDLC is one of the few multi-crypto ETFs available to U.S. investors, so its quarterly rebalance is a concrete signal of how institutional money is rotating within the top-five crypto landscape. The increased weight for XRP and SOL suggests those assets have gained relative market cap since the last rebalance. ETH's reduced share, meanwhile, comes amid a period where the asset has underperformed some peers in 2026.
Grayscale will next rebalance the GDLC ETF in three months, per its standard schedule. Investors will be watching to see whether the current shifts hold or if another rotation is in store.
