Index changes for Grayscale Crypto 5 ETF (NYSE: GDLC)

Rhea-AI Filing Summary

Grayscale CoinDesk Crypto 5 ETF reported an operational update to how its index values digital assets. On February 17, 2026, CoinDesk Indices, Inc., the Fund’s index provider, adjusted the list of digital asset trading platforms used to calculate the Index Price for several Fund components.

The update added Bitstamp as a Constituent Trading Platform for the BNB‑USD trading pair and did not remove any existing platforms in this scheduled monthly review. The Index Price for each component continues to be calculated in U.S. dollars at 4:00 p.m. New York time using data from designated trading venues.

8-K Event Classification

Item 8.01 — Other Events

1 item

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Understanding 8-K Material Events →

0001729997false00017299972026-02-172026-02-17

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 17, 2026

Grayscale CoinDesk Crypto 5 ETF

(Exact name of Registrant as Specified in Its Charter)

Cayman Islands			001-42855	98-1406784
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
c/o Grayscale Investments Sponsors, LLC 290 Harbor Drive, 4th Floor
Stamford, Connecticut				06902
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: 212 668-1427

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Grayscale CoinDesk Crypto 5 ETF Shares		GDLC		NYSE Arca, Inc.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01. Other Events.

On February 17, 2026, CoinDesk Indices, Inc. (the “Index Provider”) announced a change to the Digital Asset Trading Platforms used to calculate the Index Price (the “Constituent Trading Platforms”) for certain Fund Components of Grayscale CoinDesk Crypto 5 ETF (the “Fund”).

The Fund values each Fund Component it holds for operational purposes by reference to an Index Price. The “Index Price” of each Fund Component is the U.S. dollar value of each Fund Component derived from the Constituent Trading Platforms that are reflected in each Fund Component’s CoinDesk Benchmark Rate, calculated at 4:00 p.m., New York time, on each business day.

Prior to the changes announced on February 17, 2026, the Constituent Trading Platforms used to calculate the Index Price for each respective Fund Component were as follows:

•Bitcoin:

oBitcoin-U.S. Dollar (“USD”) Trading Pairs: Bitfinex, Bitstamp by Robinhood (“Bitstamp”), Bullish, Crypto.com, Gemini, Kraken, LMAX Digital, and OKX.

oBitcoin-U.S. Dollar Coin (“USDC”) Trading Pairs: Bitstamp, Bullish, Bybit, Kraken, and OKX.

•Ether:

oEther-USD Trading Pairs: Bitfinex, Bitstamp, Bullish, Crypto.com, Gemini, Kraken, LMAX Digital, and OKX.

oEther-USDC Trading Pairs: Bitstamp, Bullish, Bybit, Kraken, and OKX.

•XRP:

oXRP-USD Trading Pairs: Bitfinex, Bitstamp, Crypto.com, Gemini, Kraken, LMAX Digital, and OKX.

oXRP-USDC Trading Pairs: Bullish, Bybit, Kraken, OKX, and Bitstamp.

•SOL:

oSOL-USD Trading Pairs: Bitfinex, Bitstamp, Bullish, Crypto.com, Gemini, Kraken, LMAX Digital, and OKX.

oSOL-USDC Trading Pairs: Bullish, Bybit, Kraken, OKX, and Bitstamp.

•BNB:

oBNB-USD Trading Pairs: Kraken, and OKX.

oBNB-USDC Trading Pairs: Binance, Bybit, Gate, Kraken, and OKX.

Effective February 17, 2026, the Index Provider added Bitstamp (BNB-USD trading pair) as a Constituent Trading Platform used to calculate the Index Price for BNB due to the trading platform meeting the Index Provider’s conditions for inclusion, and did not remove any Constituent Trading Platforms as part of its scheduled monthly review. As of the date of this current report, the Constituent Trading Platforms used to calculate the Index Price for each respective Fund Component were as follows:

•Bitcoin:

oBitcoin-USD Trading Pairs: Binance, Bitstamp, Bullish, Crypto.com, Gemini, HashKey, Kraken, LMAX Digital, and OKX.

oBitcoin-USDC Trading Pairs: Binance, Bitstamp, Bullish, Bybit, Gate, Kraken, and OKX.

•Ether:

oEther-USD Trading Pairs: Bitstamp, Bullish, Crypto.com, Gemini, HashKey, Kraken, LMAX Digital, and OKX.

oEther-USDC Trading Pairs: Binance, Bitstamp, Bullish, Bybit, Gate, Kraken, and OKX.

•XRP:

oXRP-USD Trading Pairs: Bitstamp, Crypto.com, Gemini, HashKey, Kraken, LMAX Digital, and OKX.

oXRP-USDC Trading Pairs: Binance, Bullish, Bybit, Gate, Kraken, OKX, and Bitstamp.

•SOL:

oSOL-USD Trading Pairs: Bitstamp, Bullish, Crypto.com, Gemini, HashKey, Kraken, LMAX Digital, and OKX.

oSOL-USDC Trading Pairs: Binance, Bullish, Bybit, Gate, Kraken, OKX, and Bitstamp.

•BNB:

oBNB-USD Trading Pairs: Kraken, OKX, and Bitstamp.

oBNB-USDC Trading Pairs: Binance, Bybit, Gate, Kraken, and OKX.

The Index Provider may change the trading venues that are used to calculate an Index Price, or otherwise change the way in which an Index Price is calculated, at any time. For example, the Index Provider has scheduled monthly reviews, in which it may add or remove Constituent Trading Platforms that satisfy or fail the criteria described in “Item 1. Business—Overview of the Digital Asset Industry and Market—The Index Prices” in the Fund’s Annual Report on Form 10-K for the year ended June 30, 2025, as filed with the Securities and Exchange Commission on September 5, 2025.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

			Grayscale Investments Sponsors, LLC, as Manager of Grayscale CoinDesk Crypto 5 ETF
Date:	February 20, 2026	By:	/s/ Edward McGee
			Name: Edward McGee Title: Chief Financial Officer (Principal Financial and Accounting Officer)*

* The Registrant is a fund and the identified person signing this report is signing in their capacity as an authorized officer of Grayscale Investments Sponsors, LLC, the Manager of the Registrant.

FAQ

What did Grayscale CoinDesk Crypto 5 ETF (GDLC) disclose in this 8-K?

Grayscale CoinDesk Crypto 5 ETF disclosed an update to its index methodology. The filing explains changes to the digital asset trading platforms used by CoinDesk Indices to calculate Index Prices for the Fund’s components, including an additional venue for BNB trading pairs effective February 17, 2026.

Which index provider is used by Grayscale CoinDesk Crypto 5 ETF (GDLC)?

The ETF uses CoinDesk Indices, Inc. as its index provider. CoinDesk Indices calculates a U.S. dollar Index Price for each Fund component using data from selected digital asset trading platforms that contribute to each asset’s CoinDesk Benchmark Rate at 4:00 p.m. New York time on business days.

What specific change occurred to GDLC’s BNB pricing on February 17, 2026?

Bitstamp was added as a Constituent Trading Platform for the BNB‑USD trading pair. This change expanded the set of trading venues feeding prices into the Index Price for BNB, with no existing Constituent Trading Platforms removed during this scheduled monthly review by the index provider.

How does Grayscale CoinDesk Crypto 5 ETF (GDLC) determine the Index Price of each component?

The Fund’s Index Price for each component is based on CoinDesk Benchmark Rates. Each rate reflects U.S. dollar values derived from designated digital asset trading platforms, calculated at 4:00 p.m. New York time on each business day, and used for operational valuation of the Fund’s holdings.

Which exchanges list GDLC and what class of securities are traded?

Grayscale CoinDesk Crypto 5 ETF Shares trade on NYSE Arca, Inc. The filing lists “Grayscale CoinDesk Crypto 5 ETF Shares” as the registered class, with the trading symbol GDLC on NYSE Arca under Section 12(b) of the Securities Exchange Act.

Can CoinDesk Indices change GDLC’s Constituent Trading Platforms in the future?

Yes, CoinDesk Indices may change the trading venues used to calculate Index Prices at any time. The provider conducts scheduled monthly reviews and may add or remove platforms depending on whether they meet criteria outlined in the Fund’s Form 10‑K description of index methodology.

Filing Exhibits & Attachments

1 document

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA WITH EMBEDDED LINKBASES DOCUMENT 27.7 KB