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Grayscale CoinDesk Crypto 5 ETF (GDLC) adds exchanges to benchmark pricing

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(High)
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Form Type
8-K

Rhea-AI Filing Summary

Grayscale CoinDesk Crypto 5 ETF reports an update to how it calculates benchmark prices for its digital asset holdings. On May 19, 2026, CoinDesk Indices, Inc., the index provider, added several new trading venues to the data sources used for the fund’s Index Prices.

The fund values each crypto asset it holds using a U.S. dollar Index Price derived from trading data on selected exchanges at 4:00 p.m. New York time each business day. New platforms OSL, Bybit, and Gemini were added for certain Bitcoin, Ether, Solana, and BNB U.S. dollar trading pairs, and no existing platforms were removed as part of this scheduled monthly review.

The index provider may change the trading venues or calculation methodology in future reviews, based on criteria described in the fund’s annual report, which can affect how reference prices for the underlying digital assets are determined.

Positive

  • None.

Negative

  • None.
Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Index review effective date May 19, 2026 Date new Constituent Trading Platforms were added
Daily pricing time 4:00 p.m. New York time Time of daily Index Price calculation for each business day
Fund year-end used for criteria reference June 30, 2025 Year-end for the Form 10-K referenced for Index Price criteria
Annual report filing date referenced September 5, 2025 Date of the Form 10-K cited for methodology criteria
Index Price financial
"The Fund values each Fund Component it holds for operational purposes by reference to an Index Price."
Constituent Trading Platforms financial
"the Constituent Trading Platforms used to calculate the Index Price for each respective Fund Component"
CoinDesk Benchmark Rate financial
"Constituent Trading Platforms that are reflected in each Fund Component’s CoinDesk Benchmark Rate"
Fund Components financial
"the Constituent Trading Platforms used to calculate the Index Price for each respective Fund Component"
Emerging growth company regulatory
"Emerging growth company Item 8.01. Other Events."
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
Understanding 8-K Material Events →
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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): May 19, 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 May 19, 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 May 19, 2026, the Constituent Trading Platforms used to calculate the Index Price for each respective Fund Component were as follows:

•
Bitcoin:
o
Bitcoin-U.S. Dollar (“USD”) Trading Pairs: Binance, Bitstamp by Robinhood (“Bitstamp”), Bullish, Crypto.com, Gemini, HashKey, Kraken, LMAX Digital, and OKX.
o
Bitcoin-U.S. Dollar Coin (“USDC”) Trading Pairs: Binance, Bitstamp, Bullish, Bybit, Gate, Kraken, and OKX.
•
Ether:
o
Ether-USD Trading Pairs: Binance, Bitstamp, Bullish, Crypto.com, Gemini, HashKey, Kraken, LMAX Digital, and OKX.
o
Ether-USDC Trading Pairs: Binance, Bitstamp, Bullish, Bybit, Gate, Kraken, and OKX.
•
XRP:
o
XRP-USD Trading Pairs: Bitstamp, Crypto.com, Gemini, HashKey, Kraken, LMAX Digital, and OKX.
o
XRP-USDC Trading Pairs: Binance, Bitstamp, Bullish, Bybit, Gate, Kraken, and OKX.
•
SOL:
o
SOL-USD Trading Pairs: Binance, Bitstamp, Bullish, Crypto.com, Gemini, HashKey, Kraken, LMAX Digital, and OKX.
o
SOL-USDC Trading Pairs: Binance, Bitstamp, Bullish, Bybit, Gate, Kraken, and OKX.
•
BNB:
o
BNB-USD Trading Pairs: Binance, Bitstamp, Kraken, and OKX.
o
BNB-USDC Trading Pairs: Binance, Bybit, Gate, Kraken, and OKX.

Effective May 19, 2026, the Index Provider added OSL (BTC-USD, ETH-USD, and SOL-USD trading pairs), Bybit (BTC-USD and ETH-USD trading pairs), and Gemini (BNB-USD trading pair) as Constituent Trading Platforms used to calculate the Index Prices for Bitcoin, Ether, SOL, and BNB due to the trading platforms 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:
o
Bitcoin-USD Trading Pairs: Binance, Bitstamp, Bullish, Bybit, Crypto.com, Gemini, HashKey, Kraken, LMAX Digital, OKX, and OSL.
o
Bitcoin-USDC Trading Pairs: Binance, Bitstamp, Bullish, Bybit, Gate, Kraken, and OKX.
•
Ether:
o
Ether-USD Trading Pairs: Binance, Bitstamp, Bullish, Bybit, Crypto.com, Gemini, HashKey, Kraken, LMAX Digital, OKX, and OSL.
o
Ether-USDC Trading Pairs: Binance, Bitstamp, Bullish, Bybit, Gate, Kraken, and OKX.
•
XRP:
o
XRP-USD Trading Pairs: Bitstamp, Crypto.com, Gemini, HashKey, Kraken, LMAX Digital, and OKX.
o
XRP-USDC Trading Pairs: Binance, Bitstamp, Bullish, Bybit, Gate, Kraken, and OKX.
•
SOL:
o
SOL-USD Trading Pairs: Binance, Bitstamp, Bullish, Crypto.com, Gemini, HashKey, Kraken, LMAX Digital, OKX, and OSL.
o
SOL-USDC Trading Pairs: Binance, Bitstamp, Bullish, Bybit, Gate, Kraken, and OKX.
•
BNB:
o
BNB-USD Trading Pairs: Binance, Bitstamp, Gemini, Kraken, and OKX.
o
BNB-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:

May 22, 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.

 

 

Source: View Original Filing on SEC EDGAR

FAQ

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

Grayscale CoinDesk Crypto 5 ETF disclosed that CoinDesk Indices, Inc. added new trading platforms to the data used to calculate Index Prices for certain crypto assets, while keeping all existing platforms, as part of a scheduled monthly review.

Which new trading platforms were added to GDLC’s Index Price calculation?

The index provider added OSL for BTC-USD, ETH-USD, and SOL-USD trading pairs, Bybit for BTC-USD and ETH-USD pairs, and Gemini for the BNB-USD pair, expanding the venues used to determine benchmark prices.

How does Grayscale CoinDesk Crypto 5 ETF determine the Index Price for each asset?

The ETF’s Index Price for each asset is the U.S. dollar value derived from selected Constituent Trading Platforms that feed into each asset’s CoinDesk Benchmark Rate, calculated daily at 4:00 p.m. New York time on business days.

Did GDLC remove any trading platforms from its Index Price methodology?

No platforms were removed. The filing states that during the scheduled monthly review effective May 19, 2026, CoinDesk Indices, Inc. added OSL, Bybit, and Gemini for certain pairs and did not remove any existing Constituent Trading Platforms.

Can the trading venues for GDLC’s Index Price change again in the future?

Yes. The filing explains the index provider may change trading venues or aspects of the Index Price calculation at any time, including during scheduled monthly reviews, based on criteria described in the fund’s annual report.

Which cryptocurrencies in GDLC are affected by the new Constituent Trading Platforms?

The changes affect Bitcoin, Ether, Solana (SOL), and BNB. New trading venues were added for specific USD trading pairs of these assets, broadening the data sources used in their CoinDesk Benchmark Rates.

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