Every 10-Q that Grayscale CoinDesk Crypto 5 ETF (GDLC) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow GDLC and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full GDLC filings page.
Grayscale CoinDesk Crypto 5 ETF reports a sharp downturn driven by digital asset price declines and heavy redemptions. Net assets were $379,061 (thousands) as of March 31, 2026, down from $777,222 (thousands) at June 30, 2025, a 51% decrease over nine months.
The portfolio shifted to five tokens: Bitcoin, Ether, XRP, Solana and BNB. Bitcoin dominated at 74.45% of net assets, with Ether at 13.90%. The fund generated total return of -36.44% for the nine months and -24.68% for the quarter, reflecting large unrealized losses of $463,359 (thousands).
Redemptions were significant: the fund redeemed 6,400,000 shares over nine months, versus 2,710,000 shares issued, and sold digital assets worth $319,931 (thousands) to meet redemptions. The annualized expense ratio from the 0.59% Manager’s Fee translated into a nine‑month net investment loss of $6,509 (thousands), though the manager continues to absorb most other operating costs.
Grayscale CoinDesk Crypto 5 ETF reports that net assets fell to $538.9M at December 31, 2025, down from $777.2M at June 30, 2025. The decline came from both crypto market losses and sizable share redemptions.
For the six-month period, the Fund recorded a net decrease in net assets resulting from operations of $74.96M, driven mainly by a $305.4M unrealized loss on digital assets partly offset by realized gains on redemptions and rebalancing. Total return based on Principal Market NAV was a negative 15.62%, reducing NAV per share from $48.98 to $41.33.
The portfolio remains highly concentrated in Bitcoin and Ether, which represented 76.08% and 15.63% of net assets, respectively, at December 31, 2025. Shares outstanding declined from 15,867,400 to 13,037,400 as creations of 2.54 million shares were more than offset by redemptions of 5.37 million shares.
A key structural change is the reduction of the annual Manager’s Fee from 2.5% to 0.59% effective September 19, 2025, with fees paid in-kind using the underlying digital assets. All holdings are valued using Level 1 fair value inputs based on quoted prices on designated principal markets.
Grayscale CoinDesk Crypto 5 ETF (GDLC) reported a stronger quarter as digital asset prices rose and the fund uplisted to NYSE Arca. Net assets were $740.6 million at September 30, 2025, and Principal Market NAV per share increased to $55.91 from $48.98 at June 30. The fund recorded a $108.1 million net increase in net assets from operations, driven by $113.1 million in net realized and unrealized gains, partially offset by a $5.0 million Manager’s Fee.
The portfolio remained concentrated in large-cap tokens: Bitcoin $545.7 million (73.69%), Ether $120.4 million (16.26%), XRP $40.5 million (5.47%), SOL $27.0 million (3.64%) and ADA $6.9 million (0.94%). Capital flows reflected the new redemption program: 2.74 million shares were redeemed and 120,000 shares were created, reducing shares outstanding to 13,247,400 at quarter end. The fund’s shares began trading on NYSE Arca (GDLC) on September 19, 2025, and the Manager’s Fee was reduced to 0.59% effective that date.